The krone has started the week on the back......>

NOK: The krone has started the week on the back foot and underperforms all of

its G10 peers as we type, even as Brent trades slightly above settlement. That

said, it has already pared some of the initial losses.

- USD/NOK sits at NOK10.6332, ~100 pips better off. Bulls need a break above Apr

23 high of NOK10.8108 to open up the 38.2% retracement of the Mar 19 - Apr 7

slide at NOK10.8941. Bears look for losses past Apr 20 low of NOK10.2729.

- EUR/NOK trades at NOK11.5058, ~100 pips higher on the day. Bulls eye Apr 22

high of NOK11.6966 before taking aim at Mar 30 high of NOK11.8123. Bears would

be pleased by a fall below the 50-DMA at NOK11.1338.

- Norway's PM Solberg told NTB news agency that the gov't is working on a new

stimulus package and held discussions with the opposition last week. NTB also

reported that a separate package supporting the nation's oil industry is

expected next week.

- On the data front, retail sales (Tuesday) and unemployment (Thursday) take

focus in Norway this week.