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Apr 06 - 02:55 PM

EUR/USD: Staying Bearish; Market A Long Way From Pricing In A Serious Risk Of A Le Pen Victory - Credit Suisse

By eFXdata  —  Apr 06 - 01:30 PM

Credit Suisse discusses the EUR outlook around the first round of the French elections on Sunday.

"One currency we have been consistently bearish on is the EUR, and the news flow on that front too encourages us to stay the course, with divergent central bank rhetoric, sanction risk from the Ukraine conflict and now French political risk in the spotlight. The market is a long way from pricing in a serious risk of a Le Pen victory, and EUR could see a lot more damage if one were to come about," CS notes. 

"Our current expected Q2 range low at EURUSD 1.0750 does not incorporate a Le Pen win; were that outcome to happen, we suspect a test of EURUSD 1.0500 would follow relatively quickly," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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