Emirates NBD FX research ranked best in region

Emirates NBD has announced that its foreign exchange forecasting has been ranked within the top 10 for four of the major nine currency pairs by Bloomberg Foreign Exchange Forecasts (FXFC).

Results for the previous twelve months to September 2013 show that Emirates NBD research was rated within the top 10 forecasting banks for US dollar/Yen, Euro/Yen, US Dollar/Canadian Dollar and Australian Dollar/US Dollar. Emirates NBD was the only bank in the region to feature in the top 10 for any currency pair.

The survey analyses the research quality of a large group of global banks on three main criteria, margin of error, timing and directional accuracy. The best 51 overall forecasters from these banks were identified by averaging the individual scores across these criteria for 13 pairs of currencies. In order to qualify for the final group, forecasting banks had to be ranked within the top 10 for at least eight of these pairs in all four quarters leading up to September 2013.

Commenting on the results of the Bloomberg analysis, Tim Fox, Group Head of Research and Chief Economist at Emirates NBD, said, "To be featured within the top 10 for these important currency pairs is a recognition of the quality of our research and the value it offers to clients. Against competition from some of the world’s best research departments, our ranking in four pairs is a singular effort. I am particularly pleased to note that our forecasts were ranked within the top three for US Dollar/Yen and Australian Dollar/US Dollar against peers such as Banco Santander, Barclays, Bank of America Merrill Lynch, Citigroup and HSBC."