The streak continues — Cinkciarz.pl, a company belonging to Conotoxia Holding, one more time was the world's best EUR/USD forecaster in Q1 of 2020, according to Bloomberg's classification. Fintech also outclassed the competition with 18 places on the podium.
Forecasting in the time of uncertainty
Is it even possible to accurately predict the exchange rates in such difficult times? Cinkciarz.pl proves it is, beating the world's biggest banks and financial institutions. "The world has turned upside down due to the COVID-19 epidemic, and now, more than ever, our clients need detailed currency forecasts and market analyses. Bloomberg's rankings proves we have the best FX analysts and market expertise — we are a service provider that you can trust, also in these hard times," comments Piotr Kicinski, Vice-President of Cinkciarz.pl.
In addition to winning in the EUR/USD category, one of the key currency pairs in the world, Cinkciarz.pl, also triumphed in other classifications. The Company achieved a podium finish by accurately forecasting Scandinavian currencies: first place for US dollar/Danish krone and second place for US dollar/Norwegian krone. Moreover, Bloomberg awarded Cinkciarz.pl with first place for US dollar/Czech koruna predictions, and second places for US dollar/forint and US dollar/Romanian leu.
Fintech's dominance was not limited to European currencies, Cinkciarz.pl also took high positions in classifications for Asian currencies with second place for US dollar/Chinese yuan, and third place for US dollar/Japanese yen, LATAM currencies (e.g. first place for US dollar/Brazilian real) and North America region (third place for US dollar/Canadian dollar). Cinkciarz.pl was also the best forecasting euro/Russian rouble. To sum up, the Company took 18 places on the podium. This is the best result among all institutions taking part in the competition.
Fierce competition and several dozen awards
Bloomberg's ranking consists of several dozen classifications of individual currency pairs. Some of them are grouped in regional rankings, e.g., G10, LATAM, or EMEA currencies. At the end of each quarter, the biggest news agency in the world summarizes the reported predictions and prepares a summary classification.
For many years, Cinkciarz.pl has been competing with global giants, providing its forecasts for several dozen currency pairs. In 2019, the Company took a total of 58 podium places and won 31 times, leaving all competitors far behind. As a comparison, the second team won 45 podium places, including 13 on top.