Ebury ranked as #1 USD/CNY forecaster on Bloomberg!

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4 April 2019


Ebury is once again delighted to announce that it has performed well in the latest Bloomberg forecast accuracy rankings.

ollowing on from our #1 EUR/USD spot in the final quarter of last year, we were named as the top forecaster for the increasingly important USD/CNY cross in Q1 2019. This is, unsurprisingly, one of the more competitive currency pairs on Bloomberg. We finished above 43 other forecasters last quarter, including most of the world’s major commercial and investment banks.

Enrique Diaz-Alvarez, Chief Risk Officer at Ebury and Bloomberg forecaster, says: “We foresee that once again those calling for a serious financial accident in China will be disappointed this year. In our view, the Chinese economy will grow in line with the authorities target and that will provide support to the global economy. Pacific Rim countries are particularly well placed to capitalise here”

Figure 1: Bloomberg’s USD/CNY Forecast Accuracy Ranking [Q1 2019]

In addition, we remained within the top 10 for the critical EUR/USD pair (#9), while finishing among the top forecasters for a further twelve currency crosses. This includes ending the first quarter as the most accurate forecaster for a total of five currencies, the others of which being the South Korean Won (KRW), Malaysian Ringgit (MYR), Singapore Dollar (SGD) and Bulgarian Lev (BGN).

We were also named the third most accurate forecasters for the entire Asia and Latin America regions. The latter of which was, in part, due to another strong performance in the Mexican Peso (MXN) and Peruvian New Sol (PEN) rankings.

For context, Bloomberg’s rankings are based on three rigorous criteria: margin of error, timing and directional accuracy.

Full list:

1) USDCNY #1
2) USDKRW #1
3) USDSGD #1
4) USDMYR #1
5) EURBGN #1
6) USDMXN #2
7) USDZAR #2
8) USDPEN #2
9) USDDKK #2
10) USDRON #2
11) LatAm #3
12) Asia #3
13) USDCOP #3
14) EURDKK #3
15) NZDUSD #5
16) EURUSD #9

Our knowledge of financial markets has enabled us to support our clients in successfully navigating the often complex world of foreign exchange and protect their margins.

If you’re interested in our currency forecasts and predictions, contact us here to talk through what we think is coming up in 2019 and how we can best help your business.