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In my last article covering the EUR/JPY pair (i.e., the price of euros expressed in terms of Japanese yen), I suspected that downside would prevail going forward. A trade idea was presented with a 'stop' value of approximately 122.233, which has unfortunately since been hit. The vertical l...
There were a few notable developments in terms of the price action in the foreign exchange market last week. The biggest was the four-day drop in sterling that took it down 2.5% on the week, which is the largest decline since the flash crash in October 2016 that saw it lose more than 4%. On ...
Overview It is risky to read too much into the price action in holiday-thin markets, but inflation fears are beginning to surface. The price of January WTI is around $61, having tested $50 a barrel in Q3. The CRB Index made new highs for the year yesterday and is up almost 9% for the year. T...
Overview: The capital markets have turned quiet as the year-end positioning drives prices in lieu of fresh developments. Equities in the Asia Pacific region were narrowly mixed. The smaller markets in Asia performed better than the large bourses of Japan, China, and Korea, which eased. Europ...
Macro News Global: We previously saw that the rise in uncertainty we observed around the world in the past two years has been increasing demand for safe havens such as the US dollar and US Treasury bonds. Figure 1 (left frame) shows that periods of US dollar strength are usually associated...
Overview Efforts by a UK Prime Minister, emboldened by a strong electoral victory, will ensure that trade negotiations with the EU are not extended as the divorce has encouraged further profit-taking on sterling. After testing the $1.35 area on the exit polls last week, sterling had return...
By Francesco Pesole, FX Strategist and Petr Krpata, Chief EMEA FX and IR Strategist EUR: A small step above 1.12 The positive spillover effect of UK election into EUR/USD seems to have worn off. As we head to the Christmas holidays, the week ahead presents a few interesting eve...
Overview: Despite better-than-expected Chinese data, and last week's investor-friendly developments, Asia-Pacific equities were mixed. Australia led the advancing bourses with a 1.6% gain, its largest for the year despite the government revising down growth and wages. China, Taiwan, and Indi...
In early October, I published my analysis here on Seeking Alpha on why the U.S. dollar is likely in a topping process and that my base case was that it would be weaker in 2020 and beyond. You can read that analysis here . The summary is that the dollar has been strong for the past five year...
Last month, I made the argument that the Japanese yen was set for further downside relative to the greenback. My reason for making this argument was that the Bank of Japan may be forced to lower rates further in the future – as inflation struggles to hit the bank’s 2 percent ...
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Citigroup Global Markets Holdings Inc ZC SP ETN REDEEM 15/12/2032 USD 25 - 17326E662 Company Name:
UJPY Stock Symbol:
NYSE Market:
Citigroup Global Markets Holdings Inc. (“CGMHI”) announced today that it will accelerate at its option, and in full, the ten series of exchange-traded notes listed in the table below (the “ETNs”). Holders of the ETNs will receive a cash payment per ETN in...