FX

USD Slides Again

_{Posted on Jan 31, 2018}

USD slides again

Gains from Monday reverse overnight ahead of tonight’s Federal Open Market Committee (FOMC) meeting and this morning’s State of the Union Address by US President Donald Trump. The markets are likely to focus on his foreign themes and his tougher stance on trade – if he takes an even more hawkish line on trade, markets may see this as implying a tacit acceptance for an even weaker USD.

Sterling is G10’s best performer

Sterling is G10’s best-performing currency overnight, even as Bank of England Governor Mark Carney warns UK investment is 4 percentage points below where it should be and insufficient, given global demand. He also sees little scope for UK wages to grow spectacularly.
Carney’s downbeat comments are compounded by further negative news on Brexit with reports that the Whitehall analysis finds UK growth over the next 15 years could be up to 8% lower than if the UK stayed in the EU. The analysis comes from a leaked government document and concludes that no matter what deal is struck with Brussels, the UK would likely be worse off.

Decent eurozone GDP for the EUR

EURUSD hits a low of 1.2334 overnight, perhaps aided by the German consumer price index inflation miss at 1.6% year-over-year (versus 1.7% consensus) and -0.7% month-over-month (versus -0.6% consensus).

But the sell-off is counterbalanced with a decent eurozone GDP – the economy growing 0.6% quarter-over-quarter in Q4, in line with expectations. EURUSD rebounds above 1.2400 as a result, though it remains vulnerable to bouts of consolidation as the European Central Bank continues to push back.

This is an extract from the Daily Currency Update, dated 31st January 2018. Please approach a Citigold Relationship Manager if you would like more information.

_{By Citi Global Wealth Investments | Apr 18, 2024}

Weekly FX Focus - GBPAUD – Scales Are In Favor Of The More Resilient Economy

Markets currently price in pricing discounts for the UK with the first cut expected at the Bank of England's August 1st meeting. Meanwhile, markets price in a rate cut being likely in November and possibly pushed into 2025, coupled with declining iron ore prices, are rate differentials in favor of AUD?

FX Economy

_{By Citi Wealth Insights | Apr 15, 2024}

DXY in a 104 – 107 range may temporarily break through the upper end of the range on sharply rising geopolitical tensions

USD: In data released Friday, the University of Michigan consumer sentiment index dips to 77.9 from 79.4, below consensus for 79.0. Sentiment jumped sharply across the turn of the year but has made no further net progress, despite the stock market hitting new highs.

FX Economy

_{By Citi Global Wealth Investments | Apr 11, 2024}

Weekly FX Focus - EURAUD – Rate Dynamics Likely To Shift Against The Euro

Markets now expect the European Central Bank (ECB) to be the first major G10 central bank to cut rates and by the most among its peers. Contrasting this with the Reserve Bank of Australia (RBA) which is expected to cut rates much later and by a lot less. What are the factors at play? And what does it all mean for the EURAUD pairing?

FX Economy

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CHKL does not provide discretionary portfolio management services.

Singapore: This communication is distributed in Singapore by Citibank Singapore Limited (“CSL”) to selected Citigold/Citigold Private Clients. CSL provides no independent research or analysis of the substance or in preparation of this communication. Please contact your Citigold/Citigold Private Client Relationship Manager in CSL if you have any queries on or any matters arising from or in connection with this communication. Investment products are not insured under
the provisions of the Deposit Insurance and Policy Owners’ Protection Schemes Act of Singapore and are not eligible for deposit insurance coverage under the Deposit Insurance Scheme.

This communication is for general information only and should not be relied upon as financial advice. The information herein has no regard to the specific objectives, financial situation and particular needs of any specific person and is not intended to be an exhaustive discussion of the strategies or concepts mentioned herein or tax or legal advice. Any person interested in the strategies or concepts mentioned herein should consult their independent tax, legal, financial or other advisors,
as appropriate. This communication does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom
it is unlawful to distribute such information or make any offer or solicitation.

Before making any investment, each investor must obtain the investment offering materials, which include a description of the risks, fees and expenses and the performance history, if any, which may be considered in connection with making
an investment decision. Interested investors should seek the advice of their financial adviser about the issues discussed herein as appropriate. Should investors choose not to seek such advice, they should carefully consider the risks associated
with the investment and make a determination based upon the investor’s own particular circumstances, that the investment is consistent with the investor’s investment objectives and assess whether the investment product is suitable for
themselves. Although information in this document has been obtained from sources believed to be reliable, CSL does not guarantee its accuracy or completeness and accept no liability for any direct or consequential losses arising from Its use.

CSL does not provide discretionary portfolio management services.

UAE: This document is distributed in UAE by Citibank, N.A. UAE. Citibank N.A. UAE is licensed by UAE Securities and Commodities Authority (“SCA”) to undertake the financial activity as Promoter under license number 602003.

Citibank N.A. UAE is registered with Central Bank of UAE under license numbers BSD/504/83 for Al Wasl Branch Dubai, 13/184/2019 for Mall of the Emirates Branch Dubai, BSD/2819/9 for Sharjah Branch, and BSD/692/83 for Abu Dhabi Branch.

This is not an official statement of Citigroup Inc. and may not reflect all of your investments with or made through Citibank. For an accurate record of your accounts and transactions, please consult your official statement. Before making any investment, each investor must obtain the investment offering materials, which include a description of the risks, fees and expenses and the performance history, if any, which may be considered in connection with making an investment decision. Each investor should carefully consider the risks associated with the investment and make a determination based upon the investor’s own particular circumstances, that the investment is consistent with the investor’s investment objectives.
At any time, Citigroup companies may compensate affiliates and their representatives for providing products and services to clients.

United Kingdom: This document is distributed in the U.K. by Citibank UK Limited and in Jersey by Citibank N.A., Jersey Branch.

Citibank UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our firm’s Financial Services Register number is 805574. Citibank UK Limited
is a company limited by shares registered in England and Wales with registered address at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB, Companies House Registration No. 11283101.

Citibank N.A., Jersey Branch is regulated by the Jersey Financial Services Commission. Citi International Personal Bank is registered in Jersey as a business name of Citibank N.A. The address of Citibank N.A., Jersey Branch is P.O. Box 104, 38 Esplanade, St Helier, Jersey JE4 8QB. Citibank N.A. is incorporated with limited liability in the USA. Head office: 399 Park Avenue, New York, NY 10043, USA.

DISCLAIMER [+]

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