Just scanning through Citi's outlook for the week ... and the word 'consolidate' is jumping out at me

  • For the USD, they expect the dollar index may consolidate between 96.29-98.33
  • On the AUD ... AUD/USD may consolidate between 0.7235-0.7533
  • Cable, more of the same .... GBP/USD may range trade between 1.5330-1.5690

But, it ain't all sideways ... They are bearish on CAD and on yen:

  • CAD may further weaken as oil prices may still have downside
  • USD/CAD may test higher to 1.3274-1.3464
  • JPY may drop upon consolidation as investors may be still waiting for other US data albeit upbeat US job data
  • USD/JPY may range trade between 123.52-125.86

More:

  • They note an "increasing chance of a September lift-off" from the Federal Reserve