Zuercher Kantonalbank gives positive outlook on the results of stress tests and euro future

Zuercher Kantonalbank promises euro stability

In brief: Zuercher Kantonalbank and Commerzbank continues to believe in a stable euro and the good results of stress tests for European banks.

The future of the euro no longer looks gloomy. According to currency analysts Zuercher Kantonalbank, the forecast for the correctional movement euro / franc, the mark of 1.40 is still in force, despite concerns among investors about the results of stress tests banks of the European Union, which will be known on Friday.

The bank agrees with the opinion of most analysts that the results of these tests will prove unsatisfactory. Correction of the euro / franc is not over, it simply was interrupted for some time, say strategists Zuercher Kantonalbank. Meanwhile, Commerzbank currency analysts noted that the euro / pound lost earlier won positions. Nevertheless, until the couple has not dropped below 1.3380, the bank expected upward movement. Given that the euro / franc set a new date at least 1.3514, initial support will be provided with a pair at 1.3488. In the case of resumption of positive momentum, the bank forecast the euro / franc to 1.3650 initially, then to 1.3780.

Igor Tringlers
2010-07-21 23:23, Currency news.

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