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Sep 28 - 09:55 AM

G10: Prelim Month-End Fixing Model: Short EUR/USD Signal Into September Fix - Citi

By eFXdata  —  Sep 28 - 08:30 AM

The preliminary output of this month-end fixing model point to USD buying against EUR, at month end, according to data from Citi.

"September 2020 Preliminary Estimate & Month-End Asset Rebalancing: The sharp losses in equities in September leads the asset rebalancing model to suggest a rotation into equities from bonds with a moderately strong signal at +0.8/-0.7 historic standard deviations respectively," Citi notes. 

"The FX impact of the signals is likely to be USD buying vs EUR at month end. In line with this, CitiFX Technicals is bearish EURUSD targeting 1.1500," Citi adds. 

Source:
Citi Research/Market Commentary

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