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May 13 - 06:55 PM

Credit Agricole: Outlook on EUR/CHF Exchange Rate Towards Year-End

By eFXdata  —  May 13 - 03:00 PM

Synopsis:

Credit Agricole provides an analysis of the EUR/CHF exchange rate, predicting a steady  0.97 to 1.00 range through the end of the year influenced by both domestic and international factors.

Key Points:

  • Current Stability: EUR/CHF has stabilized around 0.9750, influenced partly by a surprising rise in Swiss CPI in April and a relatively calm domestic news flow.
  • Limited Domestic Impact: Upcoming events in Switzerland, including remarks from SNB President Thomas Jordan and expected producer price index data, are not anticipated to significantly influence the CHF.
  • Global Influences: The Swiss Franc is expected to be more responsive to international events, particularly the impact of the US CPI data on global equity and interest rate movements.

Conclusion:

While domestic factors provide limited impetus for significant movements in the CHF, international dynamics, especially from the US, could impact the currency pair. Credit Agricole reaffirms its forecast for EUR/CHF to remain within a 0.97 to 1.00 range in the coming months, suggesting a continued period of relative stability barring major global economic shifts.

Source:
Crédit Agricole Research/Market Commentary

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