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Feb 17 - 12:55 AM

USD: Short Positioning Is Not Stretched; FOMC Minutes To Reflect It's Premature To Talk About Tapering - Citi

By eFXdata  —  Feb 16 - 04:30 PM

Citi discusses the USD positioning and its expectations for tomorrow's FOMC minutes from the January meeting.

"CitiFX Strategy acknowledges that positioning signals seem somewhat mixed, particularly in equities, but not stretched in short rates positions and certainly not in short USD. Profit-taking and retracements are likely over time, but also seem likely to be shallow in this environment," Citi notes. 

"Citi Economics thinks that Wednesday’s minutes from the January FOMC meeting will reflect Chair Powell’s admonition that it is “premature” to talk about tapering of asset purchases (currently running USD120bn/mth) and that he is “not even thinking” about removing accommodation," Citi adds. 

Source:
Citi Research/Market Commentary

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