Nordic king made a graduate homeless (7)

I believe the answer is:

nomadic

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'nordic' is the definition.
Both the answer and definition are adjectives. Maybe you can see a link between them that I can't see?

I cannot understand how the rest of the clue works.

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(Other definitions for nomadic that I've seen before include "It's just like Rover" , "Perhaps unsettling" , "Not settling" , "Drifting off" , "Of no fixed abode" .)

I've seen this clue in The Daily Express.

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