A sign of a potential reversal in trends over the quarter - Citi
Citi are discussing the prospect of the dollar and are structurally retaining their bearish end-of-year perspective. They see EUR / USD at 1.18 and GBP / USD around 1.39 by the end of 2019.
"In what may be a potential signal for a trend reversal in this quarter, the strength of the euro and Chinese economic data against the US cooling economy against the background of the improved sentiment risk stemming from the Brexit talks and the potential trade deal between the US and China by the end of the month - we think the dollar will return some of its profits.
"In particular, markets will be particularly sensitive to surprises in tomorrow's NFP data, which may signal further delays in the economy in the future."
Citi analysts expect the NFP to stand at 170K, with average hourly wages of 0.2% on a monthly basis and an unemployment rate of 3.8%.
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