Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Goldman recommends traders short the euro versus Swiss franc after ECB rate hike

Published 08/09/2022, 15:10
Updated 08/09/2022, 15:22
© Reuters. FILE PHOTO: A projection shows a 100 franc banknote in a window in Zurich, Switzerland December 16, 2021. REUTERS/Arnd Wiegmann

LONDON (Reuters) - Goldman Sachs (NYSE:GS) recommends investors short the euro against the Swiss franc following the European Central Bank's record rate increase as they think it likely the Swiss National Bank will want to take action to arrest the franc's depreciation.

In a note published on Thursday, Goldman Sachs said they recommend a short EUR/CHF trade, targeting 0.955 on a tactical horizon, with a stop at 0.985.

One euro was worth 0.9668 Swiss francs on Thursday.

 

 

Latest comments

What nonsense! I think this must be a typo error
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.