There’s not much in the way of top-tier reports from the euro zone this time, but that doesn’t mean the shared currency is in for a dull week. Here’s what you should look out for.
German industrial production (Mar. 11, 7:00 am GMT)
This economic report doesn’t really move the euro that much but might still be worth catching some intraday pips, especially since data from other top economies in the region posted upside surprises.
French industrial production recently saw a 1.3% jump versus the projected 0.1% uptick while Italy also surprised with a whopping 1.7% gain and a positive revision in its earlier report.
With that, many are counting on Germany to carry on the streak with a larger than expected rebound. The consensus is for a 0.5% gain in January after the 0.4% dip in December, which might also see an upward revision.
If so, this could bring positive vibes ahead of the aggregate figures due in the middle of the week. The outlook for the region is pretty much down in the dumps after the OECD and ECB already slashed their forecasts, so any glimmer of hope could provide a fresh boost for the euro.
Overall sentiment and USD action
As in several instances, both the euro and franc could take cues from overall market sentiment. Note that the former tends to take the opposite side as the U.S. dollar in some cases while the latter has been able to benefit from risk-off flows.
Major events to watch out for include the series of
unfortunate events Brexit votes, U.S. retail sales data and CPI, Chinese top-tier reports, and updates on trade talks.
Missed last week’s price action? Read the EUR & CHF price review for March 4 – 8.