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EUR/CHF to grind higher towards 1.1050 – Credit Suisse
FXStreet reports that economists at Credit Suisse discusses EUR/CHF outlook.
“We would expect safe-haven flows into Switzerland to subside and even reverse in light of the current positive risk environment. The SNB will remain very dovish and stands ready to intervene if necessary.”
“A setback in the COVID-19 crisis and a risk-averse environment would be detrimental to this view. We see EUR/CHF grinding towards 1.1050 and would consider ourselves wrong below 1.0700.”
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Market focus
- U.S. retail sales unexpectedly decline in December
- U.S. consumer sentiment index decreases more than anticipated in early January
- Key events for next week: China GDP, eurozone ZEW Economic Sentiment index, UK, Canada and New Zealand CPI, Bank of Canada, ECB and Bank of Japan interest rate decisions, Australian unemployment rate, Eurozone, UK and US PMIs
- U.S. industrial production grows much more than forecast in December
Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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|---|---|---|---|---|---|---|---|
| Pacific | Wellington | 19:00 | 04:00 | 22:00 | 07:00 | 22:00 | 07:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| Pacific | Sydney | 21:00 | 06:00 | 00:00 | 09:00 | 00:00 | 09:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| Asian | Tokyo | 23:00 | 08:00 | 02:00 | 11:00 | 02:00 | 11:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| Asian | Hong Kong, Singapore | 00:00 | 09:00 | 03:00 | 12:00 | 03:00 | 12:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| European | 06:00 | 15:00 | 09:00 | 18:00 | 9:00 | 18:00 | |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenCloseе |
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| European | London | 07:00 | 16:00 | 10:00 | 19:00 | 10:00 | 19:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| American | New York | 12:00 | 21:00 | 15:00 | 00:00 | 15:00 | 00:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| American | Chicago | 13:00 | 22:00 | 16:00 | 01:00 | 16:00 | 01:00 |
