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EUR/CHF rangebound in the near-term – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to Pernille Henneberg, Senior Analyst at Danske Bank, the cross points to a sideline pattern the short-term.

    Key Quotes

    “We expect no action from the SNB, i.e. policy rates to be kept unchanged and terms and conditions for sight-deposit accounts will likely be left untouched as well”.

    “Markets price a small chance of a cut today and if we are right about no SNB cut, it would send EUR/CHF lower near term”.

    “We still think the SNB will continue to use intervention as the first line of defence against any unwarranted CHF strength and we expect EUR/CHF to be kept in range near term and project 1.08 in 1-3M”.

    “We expect SNB to stay put for the foreseeable future and still look for a gradual uptick in the cross to 1.11 in 6M and 1.15 in 12M”.
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