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July 31, 2020 | Norwegian Krone: Backdoor Way To Play Euro and Oil Weakness?

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

USD/NOK has a tight negative correlation with the euro. And as suspected, the currency is also impacted by oil prices. We suspect oil goes lower given the dismal demand in the real economy. Below a look at USD/NOK with EUR/USD (inverse) overlaid and our Wave view on oil.

073020 eur nok.png

Oil (WTI) Daily:

073020 oil.png

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July 31st, 2020

Posted In: Black Swan Currency Currents

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