• The Norwegian Krone rallied to a 1-week peak following a decline in the greenback against a basket of currencies.
   
• The dollar index fell to an over 1-month low after U.S. President Donald Trump boosted hopes for a large fiscal stimulus package, prompting a wave of market optimism that bolstered riskier currencies. 
   
• However, a decline in the oil prices limited the Norwegian currency's upside. 
   
• Crude oil prices eased after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut, while a spike in global COVID-19 cases fuelled fears of slower recovery in fuel demand.
   
• Data from industry group the American Petroleum Institute showed crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels. 
   
• Worldwide COVID-19 cases crossed 40 million on Tuesday, with some parts of Europe imposing renewed lockdown measures.
   
• International benchmark Brent crude was trading 0.8 percent down at $42.44 per barrel by 1142 GMT, having hit a low of $42.21 on Tuesday, its lowest since October 15. U.S. West Texas Intermediate was trading 0.4 percent lower at $40.96 a barrel, after rising as high as $41.87 on Tuesday, its highest since September 2.
   
• USD/NOK trades 0.6 percent lower at 9.2174, having touched a low of 9.1882 earlier, its lowest since October 14.
   
• Immediate resistance is located at 9.3203 (21-DMA), close above could take it till 9.3401.
   
• On the downside, support is around 9.1737, break below could take it till 9.1309.