• The Norwegian Krone slumped, hoveing towards a 1-1/2 week trough hit last week, as the oil prices slumped on fuel demand conerns.
  
• Crude oil prices declined to multi-week lows amid looming demand worries and concerns over possible rise in COVID-19 cases following the U.S. Labor Day long weekend.
  
• International benchmark Brent crude was trading 1.8 percent down at $41.28 per barrel by 0947 GMT, having hit a low of $41.22 earlier, its lowest since July 1. U.S. West Texas Intermediate was trading 2.03 percent lower at $38.26 a barrel, after falling as low as $38.20 earlier, its lowest since June 29.
  
• USD/NOK trades 0.8 percent higher at 8.9866, having touched a high of 9.0044 on Friday, its highest since August 25.
  
• Immediate resistance is located at 9.0022, close above could take it till 9.0160 / 9.0260.
  
• On the downside, support is around 8.8947, break below could take it till 8.8725.