for now kamal sharma, merrill lynch global lynch. he can get a cup of coffee. you can send in e-mails and questions to kamal. street signs europe@cnbc.com and also on twitter and tweet us at nancy cnbc or carolyn cnbc. before a quick break, want to show you the oil prices. brent crude is rallying to the tune of 5% wti crude showing gains of 4%. why? there's speculation that there will be a significant announcement on part of saudi arabia and russia out of g20 in china in about half an hour's time. it could be calling for more cooperation in terms of the oil market production. will iran and iraq play along? that's the question. >> coming together in saudi arabia and russia. >> stay with us. you don't want to miss the latest. next on street signs, we've been speaking mario monti about one of the toughest italian jobs. cleaning up the banging sector,

tom: kamal sharma with us. correlated to u.s. ars, there is something odd going on in this september. kamal: if you look at the cross-section, the yen is actually trading higher. aboard the say risk-on environment today has put the dollar, under pressure more broadly. looking at the broader implications, if you are a medium-term bull on the krone, like we have been for a number of months now, this plays right into our hands. we think the norwegians made quite a statement at the meeting last week. this combined with the oil price should set the stage for the norwegian krone to graze. this is a positive risk-on environment. francine: it helps with inflation?> kamal: it should help with inflation. francine: at the margins? kamal: we will be desperately looking at where the inflation pressure will come. this as some pressure. the question is whether this deal will stick in november, and whether the opec makes an agreement in vienna. tom: crystal clear, really wonderful update on what we see in global oil. coming up on bloomberg radio,