**As seen in Macro Walk report 01/15/2022, subscribe at cablefxm.co.uk/reports
The U.S. Citi Economic Surprise Index dipped to negative last week and to bottom the G10 ranking. The larger moves were seen in NOK and NZD, the former rising 57 points and tracking a 20-day jump of 72 points, this leaves the Norway CESI second in ranking
Over the last two-years, we have seen the U.S. economic surprise index recording at the lowest spot in the group only two times, mid-April 2020 and last week
We went back to April 2020 to check the weekly performance of USD crosses heading into the G10 CESI > U.S. event. The chart below show a selected list of USD pairs, and of course, the USD performance cannot be attributed to a single data point, indicator, or event. However, this time, USD underperformed vs peers
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