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- Buy &BRENT/NOK with Market Exchange Rate
Brent Crude vs Norwegian Krone - Brent NOK Trading
Buy &BRENT/NOK with Market Exchange Rate
Type:
PCIInstrument : &BRENT/NOK
Brent Norwegian Krone Description
The personal composite instrument «&BRENT/NOK» reflects the price dynamics of a barrel of crude oil Brent against the Norwegian krone. The base part of the instrument is composed of 1 barrel of crude oil Brent brand, and the quoted part – 1 Norwegian krone. Oil is represented by #C-BRENT - a continuous CFD on Brent oil futures.
The asset percentage content of the instrument is estimated on the basis of asset prices on the instrument creation date.
The trading instrument &BRENT/NOK is used for the analysis and trade of oil quoted against Norwegian krone.
Structure
Parameters
Trading hours
Application field
Structure
| &BRENT/NOK | № | Asset | Volume / 1 PCI | Percentage | Volume (USD) / 1 PCI | Unit of measurеment |
|---|---|---|---|---|---|---|
| Base part | 1 | #C-BRENT | 1.0000 | 0.060 | 62.9300 | barrels |
| Quoted part | 1 | NOK | 1.000 | 0.0000 | 0.1300 | NOK |
Parameters
| Standard | Beginner | Demo | |
|---|---|---|---|
| Fixed spread, pip | |||
| Floating Spread, pip | |||
| Order distance, pip | |||
| Swap (long/short) in pips on Vol | |||
|
Available volumes | |||
| The value of 1 pip in USD for the Vol |
Trading hours
| Week day | Trading hours (CET) | Local trading hours |
| Monday | 01:00 — 23:00 | 01:00 — 23:00 |
| Tuesday | 01:00 — 23:00 | 01:00 — 23:00 |
| Wednesday | 01:00 — 23:00 | 01:00 — 23:00 |
| Thursday | 01:00 — 23:00 | 01:00 — 23:00 |
| Friday | 01:00 — 21:00 | 01:00 — 21:00 |
| Saturday | — | — |
| Sunday | — | — |
Application field
The personal composite trading instrument &BRENT/NOK is used for trade and dynamics analysis of Brent oil vs the Norwegian krone, as well as multi-year comparative analysis of oil quoted against various currencies. For example, by building a percentage chart in the NetTradeX terminal for three instruments &BRENT/NOK, &BRENT/EUR и #C-BRENT, (Fig. 1), it is evident that in the last two years (2013-2014) oil against the Norwegian krone declined significantly less than oil vs. the euro or oil vs. the USD.
Fig.1
Traders, whose main assets and investments are denominated in European currencies, will be comfortable trading this PCI.
To trade PCI instruments offered exclusively by IFC Markets, you need to open a free account and download the NetTradeX platform.
