Exotic pair
USD/NOK: volatility, trading hours and correlation
The US dollar against the Norwegian krone. USD/NOK has averaged 875 pips a day over the last 90 days, with recent volatility close to its one-year norm. It tends to move most between 13:00 and 16:00 UTC.
- Last close
- 9.41613 16 October 2026
- Avg daily range
- 875 pips 90 days · 0.93% of price
- 1-year change
- -6.49% USD weaker vs NOK
- 52-week range
- 9.14483 – 10.29838 Low to high
USD/NOK over the last 12 months
Daily closes
When USD/NOK moves most
Average high-to-low range for each hour of the day over the last year, in pips (UTC). The busiest three-hour window is highlighted. 21:00–23:00 UTC includes the daily rollover, when spreads widen and bid prices dip, so those hours are left out of it.
Want these hours in your own time zone? Open forex market hours. To compare USD/NOK with other pairs, read the most volatile hours in forex.
Average range by weekday
Pips, last 12 months. Friday is typically busiest and Monday quietest.
Calendar-year performance
% change in USD/NOK each year, latest year to date
USD/NOK seasonality
Average % change by calendar month across the last 9 years. September has been the strongest month on average and December the weakest. Seasonality is a tendency, not a forecast.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg change | -0.32% | +1.43% | +0.80% | +0.96% | -0.78% | +0.09% | -0.85% | +0.14% | +1.80% | +1.27% | -0.46% | -1.70% |
| Years up | 44% | 78% | 56% | 56% | 33% | 33% | 56% | 44% | 56% | 78% | 56% | 22% |
USD/NOK correlation
Correlation of daily returns with other pairs. +1 means they move together, −1 means they move in opposite directions. How to use correlation.
Biggest daily moves in the last year
The five widest high-to-low days for USD/NOK.
| Date | Range | Open to close | × normal day |
|---|---|---|---|
| 27 January 2026 | 2580 pips | -1.92% | 2.8× |
| 3 March 2026 | 2493 pips | +0.91% | 2.7× |
| 23 March 2026 | 2171 pips | +1.57% | 2.4× |
| 17 June 2026 | 1952 pips | +1.37% | 2.1× |
| 6 February 2026 | 1846 pips | -1.24% | 2.0× |
USD/NOK pip value
Value of a one-pip move (0.0001) at the latest price.
| Account currency | Standard lot (1.00) | Mini lot (0.10) | Micro lot (0.01) |
|---|---|---|---|
 USD | 1.06 USD | 0.11 USD | 0.011 USD |
 EUR | 0.95 EUR | 0.09 EUR | 0.009 EUR |
 GBP | 0.80 GBP | 0.08 GBP | 0.008 GBP |
 NOK | 10.00 NOK | 1.00 NOK | 0.100 NOK |
About USD/NOK
USD/NOK shows how many Norwegian krones (NOK) it takes to buy one US dollar (USD). When the price rises, the US dollar is strengthening against the Norwegian krone.
USD is issued by the Federal Reserve. It tends to respond to Federal Reserve rate expectations, US jobs and inflation data, and global risk appetite, since the dollar is the world’s main reserve and funding currency.
NOK is issued by the Norges Bank. It tends to respond to Norges Bank policy and oil prices, since Norway is a major energy exporter.
With an average range of about 875 pips a day, a stop loss of 262–525 pips is roughly a third to two-thirds of a normal day for USD/NOK. Always size your position from the stop distance with the lot size calculator.
USD/NOK FAQ
What is the average daily range of USD/NOK?
Over the last 90 days USD/NOK moved an average of 875 pips from high to low each day, about 0.93% of its price. Over the past year the average was 914 pips, and over the last 20 trading days it was 858 pips.
What is the best time to trade USD/NOK?
In the past year USD/NOK was most active between 13:00 and 16:00 UTC, and the London session produced the largest average range (646 pips). The quietest hour was 04:00 UTC. Friday was its busiest weekday on average.
What is USD/NOK most correlated with?
Based on daily returns over the last year, USD/NOK moved most closely with EUR/NOK (correlation 0.75) and most inversely with EUR/USD (-0.67).
How much is one pip worth on USD/NOK?
One pip on USD/NOK is 0.0001 of the price. For one standard lot (100,000 USD) that is 10 NOK, or about $1.06 at the latest price. A mini lot is a tenth of that and a micro lot a hundredth.
Statistics are calculated by ForexSignals.io from Dukascopy hourly bid prices up to the 16 October 2026 close. Trading days run from 17:00 to 17:00 New York time, the same daily candles most MT4 and MT5 brokers show. Hourly figures cover the last 12 months, seasonality the last 9 full years. Data may contain errors and is not a trading recommendation.
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