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Oct 07 - 09:55 AM

USD: Risks Asymmetrically Sewed For A Weaker NFP Print On Friday - Citi

By eFXdata  —  Oct 07 - 08:30 AM

Citi flags a scope for a negative surprise from the NFP print on Friday for the month of September.

"Risks are asymmetrically skewed for a weaker NFP print on Friday. Should there be a negative print, the Fed’s taper timeline needs to be reconsidered, which is likely to drive an unwinding of some recent US fixed income shorts and USD longs," Citi notes.

"The markets are not pricing in much risk of a volatile Friday; therefore, short dated USDJPY puts look cheap," Citi adds.

Citi Research/Market Commentary


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