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 16 21:00 UTC Released

UST Flows,Incl.Swaps

Actual

16.7 Bln USD

Forecast

Previous

111.5 Bln USD

November 16 21:00 UTC Released

USOverall Net Capital Flows

Actual

-29.1 Bln USD

Forecast

Previous

108.2 Bln USD

January 31 00:00 UTC 420253420253m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420253420253m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 432073432073m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 420253420253m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 432073432073m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 420253420253m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420253420253m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 420253420253m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

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