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Nov 18 - 09:55 AM

USD: Data Change Index Now Flashes A USD Sell Signal - Citi

By eFXdata  —  Nov 18 - 09:10 AM

CitiFX Quant notes that its Data Change Index now flashes a USD sell signal.

"The signal is in the context of preempting moves for the very near term, rather than being suggestive of more structural shifts. The most recent change is a result of a strong Q3 GDP print for JPY," Citi notes. 

"Additionally, CitiFX Strategy published a must read earlier in Can the USD Fall 20% Next Year? The potential for large hedging flows, a favorable technical backdrop, and the prospect of global reflation on the back of vaccine advances leaves our team bearish on USD’s outlook for the medium term," Citi adds. 

Source:
Citi Research/Market Commentary

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