Divergence in cash rate policy between US and Norway, creates an opportunity for shorting the pair.
US is expected to cut its rate, while slower economic growth is waiting to hit the dollar. Norway's economy is doing great, and therefore they expect to increase the cash rate.
also looking at USO vs the pair, as it have been highly diverge against each other. could though see oil lower as we are in driving season and a build is occurring, which means demand is low. entering on spot, with a hedge until a reasonable level to enter net short position for USDNOK.
Happy trade :)
US is expected to cut its rate, while slower economic growth is waiting to hit the dollar. Norway's economy is doing great, and therefore they expect to increase the cash rate.
also looking at USO vs the pair, as it have been highly diverge against each other. could though see oil lower as we are in driving season and a build is occurring, which means demand is low. entering on spot, with a hedge until a reasonable level to enter net short position for USDNOK.
Happy trade :)