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Oct 12 - 06:55 PM

CHF: We See EUR/CHF In a 1.0580-1.1050 Range - Credit Suisse

By eFXdata  —  Oct 12 - 03:00 PM

Credit Suisse discusses EUR/CHF outlook and sees the cross at 1.0580-1.1050 range over the coming weeks.

"The upside in EURCHF should be capped by a dovish ECB, Brexit uncertainties, risks around the US elections and an outperforming Swiss economy.  On the downside, however, EURCHF sellers are facing the risk of SNB intervention. We, therefore, believe a range-trading environment in EURCHF is the most likely scenario heading into the mid-October Brexit deadline and the US elections on 3 Nov," CS notes.

"A benign Brexit outcome could put some upward pressure on EURCHF heading into the US elections. A decisive US election outcome should lead to a growth supportive policy mix. The riskenvironment should improve materially and lead to CHF underperformance. Downside risks are a hard Brexit and a US election gridlock. Another ECB rate cut or more QE could put downward pressure on EURCHF as well. However, we believe such a move will be shadowed by the SNB, which should limit the negative consequence," CS adds. 

Credit Suisse Research/Market Commentary


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