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Nov 12 - 11:00 AM
USD: Still Facing Headwinds M-Term Due To 3 Factors - Citi
First appeared on eFXplus on Nov 12 - 09:10 AM

Citi discusses the USD outlook and maintains a structural bearish bias, highlighting 3 key factors behind this view.

"USD: Still facing headwinds due to –(1) A likely de-escalation in US – China trade tensions (notwithstanding Friday’s setback) is likely to see firmer Asia EMFX that potentially translates to firmer sentiment in the Commodity Bloc and EUR; (2) Rising US political risks – Trump impeachment risks in a presidential election year in 2020 likely poses significant challenges to President Trump’s economic agenda; (3) Risks of a deeper global economic slowdown with US possibly leading the way," Citi notes. 

 "Citi analysts comment that while it is appropriate to price-out some of the more extreme pessimism for US growth prospects, risks to US activity and inflation remain balanced to the downside. With other central banks constrained, only the Fed is in a position to deliver significant monetary stimulus – thus likely leading to USD weakness,' Citi adds. 

Citi Research/Market Commentary


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