Last week bad for oil exporters - Societe Generale

FXStreet (Łódź) - Kit Juckes, Global Head of Currency Strategy at Societe Generale observes that the main losers against the USD last week were NOK, CAD, BRL, MXN.

Key Quotes

"A glance at last week's currency rankings shows NZD and KRW at the top, but it's those which have fallen against the dollar that tell the story: NOK, CAD, BRL, MXN."

"So, it was a bad week for anyone who exports oil."

"And that of course, feeds back into our concerns about a return of gloom about growth prospects, given the risk that cheaper oil feeds into lower CPIs before it feeds into stronger consumer demand."