Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

FxWirePro: Buy euro against franc targeting 1.18

The market has pushed the euro to a new high against the franc since the Swiss Nation Bank (SNB) removed its currency peg with the euro at 1.2. The euro is currently trading at 1.155 as it cleared the previous high made back in June around 1.15 area.

We have been saying for quite some time now that franc remains one of the most overvalued currency in OECD and SNB is likely to be the last man standing, when it comes to raising rates and backing away from the stimulus. As the inflationary pressure rises across the world, leading to higher volatilities in both bond and currency market, the franc is being punished for SNB’s standing out.

With such outlook, we remain bullish on Euro/franc and we recommend a buy at the current price of 1.155 and at dips with a target around 1.18 area. Stop loss is recommended at 1.126 for the moment due to an expectation of increased volatility over FOMC, BoE, and ECB monetary policies.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

November 24 15:30 UTC Released

USECRI Weekly Index*

Actual

145.6 %

Forecast

Previous

145.6 %

November 24 14:45 UTC Released

US1st Half-Mth Infl YY*

Actual

54.6 %

Forecast

Previous

54.6 %

November 27 09:00 UTC 28502850m

ITExport Prices*

Actual

Forecast

Previous

111 %

November 27 09:00 UTC 28502850m

ITImport Prices*

Actual

Forecast

Previous

116.1 %

November 27 14:00 UTC 31503150m

MXTrade Balance, $*

Actual

Forecast

Previous

-1.886 Bln USD

November 27 14:00 UTC 31503150m

MXTrade Balance SA*

Actual

Forecast

Previous

-1.559 Bln USD

November 27 15:30 UTC 32403240m

USDallas Fed mfg bus index

Actual

Forecast

Previous

27.6

November 27 21:00 UTC 35703570m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

87 Bln BRL

November 28 00:00 UTC 37503750m

BRCentral Govt Balance

Actual

Forecast

Previous

-22.725 Bln BRL

November 28 07:00 UTC 41704170m

DEGDP Growth QQ* Advance

Actual

Forecast

Previous

10.7 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.