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The euro zone’s got a mix of medium-tier and top-tier reports this week while the SNB is due to print its foreign currency reserves data. What should you expect?

ECB head Lagarde’s testimony (Nov. 4, 6:30 pm GMT)

  • Due to speak at the Publishers’ Night 2019 in Berlin
  • First speech as ECB Chairperson, market watchers eager to hear her take on monetary policy
  • In an earlier interview, Lagarde mentioned plans to heal ECB policy split with review

German factory orders & industrial production (Nov. 6 & 7, 7:00 am GMT)

  • Factory orders to rebound by 0.1% in September after previous 0.6% drop
  • Industrial production to slip by 0.3% after earlier 0.3% uptick
  • Both reports came in weaker than expected for three out of the last five releases

SNB foreign currency reserves (Nov. 7, 8:00 am GMT)

  • Considered an indicator of how the central bank is keeping CHF weak
  • A large increase in foreign currency reserves suggests forex intervention
  • Previous level at 777 billion CHF

EU Economic Forecasts (Nov. 7, 10:00 am GMT)

  • Report contains updated economic forecasts for EU member states over the next two years
  • Downgraded estimates could spur expectations of additional ECB easing

Technical Snapshot

  • EUR/USD and EUR/CAD seeing overbought conditions
  • EUR/AUD in oversold territory

EUR Stochastic

  • Long-term trend strength analysis of CHF pairs suggests GBP/CHF is strongly bullish while USD/CHF is bearish

CHF Trend Strength

Missed last week’s price action? Read the EUR & CHF price recap for Oct. 28 – Nov. 1!