Out of the top 58 financial institutions, BBVA was the world's number one Euro Dollar forecasting house for the year ending in the first quarter of 2013.

This is the first time BBVA has topped the Bloomberg poll for the world's dominant cross rate. The accuracy of BBVA's forecasts, with a score of 74.37%, in the twelve-month period up to the end of 1Q13 was significantly higher than any other bank or financial institution. In fact, outside of the top 8 where only other bank was present, the other 50 banks and institutions were at least 15 points behind BBVA. For G3 FX forecasting (EURUSD & USDJPY combined), BBVA is also the world's top ranked forecaster.

Peter Frank, BBVA Research G10 FX Chief Strategist, explains "this is a great achievement because we have established ourselves as the best bank worldwide in the most active currencies in the world and where competition is greater".

BBVA is also top three for all Latam currencies  in the same period, after been ranked Top Latin American Forecaster for Currency Markets in 2012 by Bloomberg Markets.

Bloomberg ranked currency forecasters based on three criteria: margin of error, timing (for identical forecasts, the ones made earlier received more credit) and directional accuracy (whether or not the movements implied in the forecasts coincided with the currency's overall direction).

Best EURUSD forecasters

  1. BBVA 74.37
  2. Credi t Agricole CIB 71.57
  3. Monex Europe Ltd. 68.56
  4. Canadian Imperial Bank of Commerce 66.81
  5. Alpha Bank AE 64.77
  6. Westpac Banking Corp. 61.29
  7. Commonwealth Bank of Austral ia 61.28
  8. Landesbank Baden-Wuerttemberg 60.2
  9. Bank of New Zealand 59.89
  10. Banca Aletti & C Suisse SA 59.22

As of 10 May 2013

Source: Bloomberg