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Oct 12 - 09:55 AM

EUR/USD: Neutral This Week, But Retains A M-Term Bullish Bias; No Longer Expect Major Further Dips - Citi

By eFXdata  —  Oct 12 - 08:32 AM

Citi is neutral on EUR/USD in the near-term, while maintaining a medium-term bullish bias on the pair over the coming months. 

"This week, CitiFX Strategy is neutral EURUSD short-term as markets price out some post-election uncertainty and fiscal discussions continue. But the team retains its medium-term bullish bias and no longer see major further dips," Citi notes. 

"The major event this week will be EU Summit on Thursday/Friday with a focus on Brexit and the EU Recovery Fund and Budget, even though we don’t expect major breakthroughs. In the meantime, note a range of ECB speak today, including President Lagarde who speaks at an IMF event,' Citi adds. 

Source:
Citi Research/Market Commentary

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