India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Greece’s Bad Loan Crisis Continues to Limit Credit Access Despite Economic Recovery 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Fall in energy prices, Norway's top exports is taking heavy toll in overall a manufacturing, extraction and mining sector. This slowdown is likely to worsen outlook for the country and its job market. Norway notably withdrew some funds form its sovereign wealth fund to plug the gap in budget deficit.
- Overall production is down -3% in October from a year ago. Mining and quarrying down -12.9% from a year ago.
- Ships, boats and oil platform manufacturing suffered worst drop of -26.1% y/y, followed by machinery and equipment by -13.8%. Refined petrochemicals' production is still up 4.4% from a year ago but down -6.3% from September.
- Basic metal production is down close to -7% from last year.
After OPEC's decision last week to scrap the ceiling, is likely to worsen scenarios for Norway. Expect further easing from Norway, as lot of scope exits, since interest rate is at 0.75%.
Norwegian Krone is down by 1.4% today, trading at 8.623 per Dollar.
