Norwegian Krone: Backdoor Way To Play Euro And Oil Weakness? By: TalkMarkets July 30, 2020 at 15:50 PM EDT USD/NOK has a tight negative correlation with the euro. And as suspected, the currency is also impacted by oil prices. Read More >> Related Stocks: DB US Dollar Index Bullish Fund Invesco Euro Trust Currencyshares Ipath Pure Beta Crude Oil ETN Ultra Bloomberg Crude Oil 2X ETF