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EUR/NOK Short. EUR/NOK is currently trading around 10.10 after weakening from 10.50 last week. Given the current oil price of around $ 70, Nordea analysts see room for a further decline in the EUR / NOK currency pair. A key event for the NCA last week was a meeting between OPEC and partners, at which members decided to leave production roughly unchanged as expected. “The NCA should therefore continue to receive support from oil prices, both in the short and long term.”