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All eyes and ears might be on the ECB decision this week as the central bank is expected to increase its pandemic stimulus program.

The euro edged mostly higher against its rivals last week while the franc took some hits as the SNB sounded dovish.

Here are more potential catalysts to watch out for:

ECB monetary policy decision (June 4, 12:45 pm GMT)

Low-tier Swiss data

  • Retail sales (June 2, 7:30 am GMT) to slip by 4.9% y/y after earlier 5.6% slump
  • Manufacturing PMI (June 2, 8:30 am GMT) to tick higher from 40.7 to 42.0
  • Q1 GDP (June 3, 6:45 am GMT) to show 2.0% contraction after earlier 0.3% expansion
  • CPI (June 4, 7:30 am GMT) to show 0.1% dip in price levels
  • SNB foreign currency reserves (June 5, 8:00 am GMT) to confirm if central bank has started to intervene in forex market

Overall risk sentiment

  • Market watchers are still keeping tabs on the COVID-19 pandemic, with stronger reactions to positive developments like quarantine measures being eased or vaccine trials going well
  • Tensions between the U.S. and China also impact risk sentiment, along with brewing conflict in Hong Kong
  • Brexit-related updates appear to be spurring intraday volatility among euro pairs

Technical snapshot

EUR Pairs Moving Averages from MarketMilk
EUR Pairs Moving Averages from MarketMilk
  • In particular, EUR/JPY, EUR/USD, and EUR/GBP are looking strongly bullish while the rest are seeing a weakening bullish trend.
  • Stochastic confirms that EUR/CHF is looking bearish in the overbought region.
EUR Pairs Stochastic from MarketMilk
EUR Pairs Stochastic from MarketMilk
  • The oscillator also puts EUR/JPY, EUR/USD, and EUR/GBP in the oversold territory.
  • Franc pairs look mostly overbought based on Stochastic, except for USD/CHF giving off bullish vibes.
CHF Pairs Stochastic from MarketMilk
CHF Pairs Stochastic from MarketMilk

Missed last week’s price action? Read the EUR & CHF price recap for May 25-29!