Don’t expect inflationary pressures from oil.
The OPEC has refrained from cutting oil supply, pushing prices even lower and weakening oil-sensitive currencies like the Norway krone and the Canadian dollar. With oversupply set to remain in place, oil prices are unlikely to add any inflationary pressures. This will likely not help the job of the European and Japanese central banks. As a result, the trends in USD/JPY and EUR/USD are expected to continue.
Read the full report: Market Research