{"id":212938,"date":"2023-12-15T02:23:37","date_gmt":"2023-12-14T20:53:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=212938"},"modified":"2023-12-15T02:23:37","modified_gmt":"2023-12-14T20:53:37","slug":"usd-nok-faces-a-steep-decline-after-norges-bank-and-feds-decision-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/usd-nok-faces-a-steep-decline-after-norges-bank-and-feds-decision-crypto-news\/","title":{"rendered":"USD\/NOK faces a steep decline after Norges Bank and Fed\u2019s decision &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>The USD\/NOK experienced a 2.35% downslide, trading close to the 10.520 level.<\/strong><\/li>\n<li><strong>Norges Bank increases benchmark interest rate by 25 bps to 4.50%<\/strong><\/li>\n<li><strong>US bond yields decline across the board after the Fed hinted a more easing than expected in 2024.<\/strong><\/li>\n<\/ul>\n<p>In Thursday&#8217;s session, the USD\/NOK pair took a downward tumble, plunging to its lowest level since August at about 10.520. This move was spurred by the decisions from higher-tier financial institutions, specifically Norges Bank and the Federal Reserve, which fueled a substantial 2.35% decline but mainly due to the Norwegian taking on an unexpected hike.<\/p>\n<p>In line with that, Norges Bank announced a 25 bps in the policy rate, bringing it up to 4.50%, and suggested a potential halt of their rising rate cycle, as the terminal rate projections were slightly upped to 4.55% from 4.44%, in sync with previous forecasts and showing the little possibility of more hikes.<\/p>\n<p>Despite the market and economists&#8217; low expectations, Norges Bank enforced the hike but it also changed its tone, exhibiting concern over the risks between over-tightening and under-tightening, hinting at a reduced inclination towards future hikes.<\/p>\n<p>On the other hand, the Fed left rates steady at 5.25-5.50% as expected the official&#8217;s median projections suggest that they expect 75 bps of easing in 2024. As a reaction, markets dumped the US Dollar, also driven by the bank\u2019s hints of low odds of additional tightening, also fuelling the pair downwards.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/NOK levels to watch<\/h2>\n<p>The daily chart suggests that the pair finds itself in a bearish landscape, as the Relative Strength Index (RSI) portrays a negative slope in the negative territory while the Moving Average Convergence Divergence (MACD) histogram further confirms this bearish bias, presenting rising red bars.<\/p>\n<p>On a broader context, the pair is nestled below the 20,100 and 200-day Simple Moving Averages (SMAs), cementing the control of the sellers also in the larger context.<\/p>\n<p>Support Levels: 10.450, 10.400, 10.350.<br \/>Resistance Levels: 10.570, 10.680 (200-day SMA), 10.700.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/NOK daily chart<\/h2>\n<p>\u00a0<\/p>\n<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The USD\/NOK experienced a 2.35% downslide, trading close to the 10.520 level. Norges Bank increases benchmark interest rate by 25 bps to 4.50% US bond yields decline across the board after the Fed hinted a more easing than expected in 2024. In Thursday&#8217;s session, the USD\/NOK pair took a downward tumble, plunging to its [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":182466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,838,252,247,253,249,4658,256,254],"class_list":["post-212938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-norway","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdnok","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/212938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=212938"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/212938\/revisions"}],"predecessor-version":[{"id":212940,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/212938\/revisions\/212940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/182466"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=212938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=212938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=212938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}