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Nov 18 - 03:55 AM

EUR/CHF - Close Under 1.0500 May Be A Game Changer

By Jeremy Boulton  —  Nov 18 - 02:42 AM
  • SNB intervention has been significantly reduced nL1N2S80K7

  • IN 2020 SNB sold CHF 134 billion in its efforts to weaken franc

  • EUR/CHF low in 2020 was 1.0505, currently pair is 1.1513 EBS

  • Nov 17/18 lows 1.0507/08, stops below 1.0500 options loom

  • A close under 1.05 may confirm SNB has changed FX policy

  • Swiss trade surplus CHF 5.6 billion in October, almost record high

  • Surplus to underpin franc and likely to anger U.S.

  • 1.0252 and 0.9839 are the targets below 1.0500



Swss trade balance Click here

EURCHF Click here

Source:
Refinitiv IFR Research/Market Commentary

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