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$1307.98 target on Gold from Citibank.

Citibank Wealth Management published its Weekly FX Insight, where it provided an analysis on gold price. According to the report, the prices on gold increased driven by the fall in USD as earnings growth missed estimates, although nonfarm payrolls grew 242K in February. The analysts think that the slowdown in global economy may postpone the […]

Citibank experts forecast a range of 1.0711-1.0990 for EUR/USD.

Citibank Wealth Management published its Weekly FX insight report on January 25 analyzing the performance of major currency pairs as of January 22. The article discussed ECB President Mario Draghi’s announcement, which said that oil prices dropped 40% since December 2015 and thus imply that 2016 inflation may be lower than ECB’s expectations. That is […]

Citibank USD/CAD forecast: 1.42 in 0-3 months

Citi bank predict that continuing oil weakness may drive USD/CAD to 1.42 in 0-3 months. Their words: “Since petroleum products are Canada’s major export, the persistent oil weakness may dampen Canada’s export income. This will likely be CAD-negative. Besides, Citi’s Canada Economic Surprise Index plunged to -71.5 recently, the worst among major currencies, reflecting that […]

Citibank: month-end fixing model suggests buying EUR & USD

From Citi:  “The preliminary month-end FX hedge rebalancing estimate points to buying of EUR and selling of all other currencies vs USD on Thursday, 31 December. The signal to buy EUR is strongest, measuring around +0.5 historical standard deviations. Euro area equities and bonds never fully recovered from the ECB surprise at the start of […]