A combination of strengthening crude and........>

NOK: A combination of strengthening crude and returning risk appetite push NOK

to the top of the G10 pile as London traders are starting to get in. USD/NOK

last sits at NOK10.6960, ~700 pips worse off. A fall below Apr 20 trough at

NOK10.2729 would open up Apr 7 low of NOK10.1281. Conversely, bulls look for a

clearance of the NOK11.0000 mark before setting their sights on the 50%

retracement of Mar 19 - Apr 7 fall at NOK11.1307.

- EUR/NOK has shed ~750 pips and sits at NOK11.5800. Losses through Apr 20 low

of NOK11.1655 & the 50-DMA at NOK11.0772 would open up the key Apr 7 low of

NOK11.0527. Bulls look for a jump above Mar 30 peak at NOK11.8123.

- Norwegian AKU unemployment & industrial confidence are due today.