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May 18 - 02:55 PM

EUR/CHF: More Consolidation N-Term; Year-End Target At 1.12 - Credit Agricole

By eFXdata  —  May 18 - 01:30 PM

Credit Agricole CIB Research discusses EUR/CHF outlook and adopts a neutral bias in the near-term and a bullish bias over the medium-term.

"The CHF has been consolidating for most of the past few weeks with crosses such as EUR/CHF trading broadly range-bound. This is unlikely to change anytime soon with balanced speculative positioning pointing towards low position squaring-related risks and as there is little scope for changing policy differentials," CACIB notes.

"Our long-term outlook on the CHF, however, remains one of depreciation with our year-end EUR/CHF target standing at 1.1200," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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