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Month-end recap CS: FX Month End Signals......>

FOREX
FOREX: Month-end recap
CS: FX Month End Signals (Preliminary)
Long signal for the following currency pairs: AUDUSD, GBPUSD, EURUSD Short
signal for the following currency pairs: USDCHF
CITI: The asset rebalancing signal is stronger than the hedge rebalancing this
month and points to selling of USD and buying of EUR, GBP and JPY at month end.
BARCLAYS: The FX month-end rebalancing model highlights that US equity markets
continued printing record highs, driven by corporate tax cuts, fiscal boost and
strong economic activity. The outperformance of US equities drives the model to
produce strong USD selling signal against all peers (EUR, JPY, GBP, CAD & AUD).
CACIB: Preliminary signal - Our model expects month-end flows to be strong USD
selling across the board.

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