Norway's Q2 to Q3 ratio

The pair will continue to move lower in the following days towards its October 2018 low. Norway has the highest Q2 to Q3 ratio among countries in Europe. The country managed to expand by 4.6% in the third quarter, almost completely recouping the 4.7% contraction in the second quarter. In addition to this, the country had a trade surplus of $2.7 billion in October compared to the -$8.0 billion deficit back in September. Investors’ confidence in Norway is also expected to boost the krone. The optimism was due to the record-breaking increase of the country’s sovereign wealth fund at $1.2 trillion. The increase in SWF was due to the recent tech rally in the US on which the oil fund has a substantial interest. Globally, the country owns 1.3% of global stocks. Also, the increase in the pension fund translates to higher liquidity, which could keep the economy and its currency afloat. In fact, the withdrawal made in May on the fund was exceeded by its capital gains.