Economists at Credit Suisse make forecast changes following Russia’s military action in Ukraine. They lower the expected EUR/USD Q1 range and the end-Q1 target.

Bearing down on EUR

“We lower our expected Q1 range from 1.1050-1.1600 previously to 1.0800-1.1400. We also lower our end-Q1 target from 1.1150 to 1.0950.”

“We wish to be clear that we see EUR/USD as a ‘sell rallies’ story, and we extend further our bearish stance that has now been in play since Q2 2021.”