Credit Agricole CIB Research discusses EUR/CHF outlook and maintains a core bullish bias through year-end.
"Data-wise, it will be quiet next week with no meaningful data scheduled to be released. As such, this implies it will be about external factors such as global risk sentiment to drive the CHF. At the same time, speculative positioning has remained fairly balanced. Hence, rising selling interest may be needed to trigger more sustained currency downside from here. By mid-year, we see little scope for such prospects to materialise," CACIB notes.
"Hence, we hold on to our mid-year 1.10 EUR/CHF forecast. In the longer-run, however, we continue to favour gradual downside with our year-end forecast standing at 1.1200," CACIB adds.