EURNOK Euro vs Norwegian Krone

The Norwegian Krone retreated from its early high against the euro in European deals on Friday, as Norway's retail sales decreased unexpectedly in January.

Data from Statistics Norway showed that the retail sales volume, excluding vehicle sales, fell by a seasonally adjusted 0.7 percent month-over-month in January after the 0.2 percent rise in December. Economists expected sales to remain unchanged.

On a year-over-year basis, sales rose by a working-day adjusted 1.4 percent in January. In December, sales had increased 2.6 percent.

The Norwegian Krone, which climbed to a weekly high of 8.5385 per euro in early deals, retreated to 8.5853 following the data. The next likely support for Norway's currency is seen around the 9.00 level.

Euro vs NOK (FX:EURNOK)
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Euro vs NOK (FX:EURNOK)
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