Intraday Market Thoughts

Archived IMT (2009.10.21)

by Ashraf Laidi
Oct 21, 2009 15:52

EURCHF INTERVENTION ZONE. EURCHF nears the 1.5090-1.5100 region, known for recurring interventionist buying from the Swiss National Bank over the past 5 months. And with most interventions having occurred on a Thursday, tomorrow, could prove ripe for fresh franc selling. Thursday interventions have coincided with either SNB policy meetings, or on tenders from the ECB, which involved converting euros for francs and dragging down the EURCHF rate to the SNB's line-in-the-sand level of 1.5090-1.5100. Interim upside seen at 1.5135-40, followed by 1.5190.


Latest IMTs