FX Week

JP Morgan tool to forecast FX 'surprises'


LONDON -- JP Morgan Chase launched an Economic Activity Surprise Index (Easi) in February, which the bank claims will help users predict short-term currency moves.

The US bank claimed tracking economic data surprises with the Easi is superior to traditional methods of reading the market, such as looking at fundamentals in absolute terms. Surprises are defined as economic data releases that differ from the consensus by 0.5 standard deviations for monthly and quarterly data, or one standard dev