The Norwegian krone lost ground against its US counterpart on Monday morning after the Statistics Norway report showed that the nation's industrial production declined in October.
The Industrial production dropped a seasonally adjusted 1.1% month-on-month, in contrast to the 1% rise in September. On a yearly basis, industrial output dropped a working day adjusted 4.9% in October. Manufacturing production dropped 5.3%, steeper than expectations for a 3.7% decline.
Norway's currency that slumped to a 10-day low of 5.7534 against the greenback around 4:00 am ET moved mostly in a sideways pattern thereafter. A trend below the 5.782 support may bring the domestic unit down to its lowest level in more than a month. The pair is presently trading at 5.7276, compared to last week's close of 5.687.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.