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Most European markets are off to a late start for this trading week, so are we about to see a big pickup in volatility later on? Here’s what’s coming up.

SNB head Jordan’s speech (Apr. 26, 8:00 am GMT)

Swiss National Bank head honcho Thomas Jordan is set to grab the mic during the central bank’s General Meeting of Shareholders in Bern later this week.

Expect franc traders to keep extra close tabs on his remarks on inflation, interest rates, and whether or not the currency is overvalued. Newsflash: He probably will say it is.

Aside from that, be on the lookout for commentary on lower rates as Jordan mentioned in a recent interview that there could be a need for a deposit rate of -0.75% and a pledge to intervene in currency markets. He also reiterated that the SNB has the tools to boost the economy if its performance deteriorates.

Earlier in the month, though, Jordan also said that their current monetary policy stance was appropriate.

Overall market sentiment

There are no major event risks from the euro zone this week, leaving the shared currency to take cues from risk appetite, geopolitical risks, and possibly dollar direction.

Keep in mind that it’s a shortened trading week with markets closed on Easter Monday and that the euro might be in for a shaky start after last week’s mostly disappointing PMI results.