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Nov 22 - 06:55 PM

CHF: Gradual CHF Gains Still Poised To Resume; Staying Short EUR/CHF - Credit Agricole

By eFXdata  —  Nov 22 - 03:30 PM

Credit Agricole CIB Research maintains a bullish CHF bias and a short EUR/CHF exposure targeting a move towards 0.9450.

"Resilient risk appetite across global markets has possibly constrained the CHF somewhat, while the domestic newsflow has remained supportive. SNB members have kept talking up prospects that additional rate hikes remain on the cards, while the latest Swiss macro releases offered extra evidence of superior domestic fundamentals vs most peers," CACIB notes. 

"Against this backdrop, we retain a constructive view on the CHF going into 2023, as epitomised by the long trade recommendation against the EUR in our discretionary portfolio. A very thin agenda for the week ahead locally should nonetheless be of a little help to eventually give the CHF a fresh fillip," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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