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Both the euro and franc were generally weaker in the previous week, with their respective central bank biases looming like dark clouds. Are more losses likely?

Medium-tier preliminary data (starting Apr. 30, 5:30 am GMT)

Early economic estimates from the euro zone’s top economies will be trickling in for the most part of this week, allowing traders to gradually have an idea how the entire region is doing lately.

First up are the French preliminary GDP, CPI, and consumer spending reports on Tuesday’s London session, followed by Spain’s flash GDP and CPI readings.

Later in the session, it will be Germany’s turn to print its preliminary CPI reading for April and possibly show stronger price pressures at 0.5% versus the earlier 0.4% uptick. The region’s flash GDP reading is also due, likely churning out a slightly stronger 0.3% expansion for Q1.

Most European banks will be closed on a holiday for May 1, before reopening the next day to get a dose of the final PMI readings.

On Friday, the euro zone flash CPI figures are on the docket. The headline reading is slated to improve from 1.4% to 1.6% while the core figure could advance from 0.8% to 1.0%.

Low-tier Swiss data (starting Apr. 30, 11:30 am GMT)

It’s not gonna be the usual empty economic calendar for the Swissy this time! This week has a smattering of low-tier economic reports that could more or less give market watchers a clue if the SNB is indeed bound to act or not.

First up is the KOF economic barometer, which could tick up from 97.4 to 97.5 in April. Stronger than expected results could hint of better days ahead over the next six months while a downside surprise could mean more weakness.

Thursday has the Swiss retail sales report due and this is expected to show a 0.4% decline year-over-year, adding to the earlier 0.2% drop. The Swiss manufacturing PMI is due an hour after, possibly showing an improvement from 50.3 to 51.3.

Before the week comes to a close, Switzerland will release its CPI reading for April and might indicate a meager 0.2% uptick in price levels. Weaker than expected results could remind traders that SNB policymakers are keeping extra close tabs on inflation, with weak figures upping the odds of intervention.

Missed last week’s price action? Read the EUR & CHF price review for April 22-26.