EUR/NOK settles above 2-month low, posts weekly loss

The EUR/NOK currency pair settled above recent low of 11.7235, its weakest level since June 24th, as market players digested the latest inflation data prints out of Euro Area’s largest economies.

In France, annual consumer inflation eased to 0.9% in August, preliminary data showed, or the lowest rate since May. The figure defied expectations of holding steady at July’s 1%.

In Spain, annual CPI inflation remained stable at a five-month high of 2.7% in August.

In Italy, annual CPI inflation eased to 1.6% in August from 1.7% in July.

And, German annual CPI inflation picked up to 2.2% in August, or the highest rate since March, from 2% in July. The figure came above expectations of 2.1%.

Elsewhere, retail sales in Norway grew at a monthly pace of 0.6% in July, data showed, accelerating from a revised up 0.1% growth in June.

The exotic Forex pair lost 0.21% for the week.