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It’s just gonna be the usual slew of low-tier reports from the euro zone and Swiss economy this week, so their currencies might take cues from sentiment instead.

Medium-tier euro zone data

  • Final manufacturing PMI readings due Dec. 2, no major revisions expected
  • Final services PMI readings due Dec. 4
  • Euro zone retail sales and German factory orders data due Dec. 5
  • German industrial production due Dec. 6, rebound of 0.2% expected after earlier 0.6% drop

Low-tier Swiss data

  • Swiss retail sales y/y to come in at 0.8% in Oct. after earlier 0.9% reading
  • Swiss CPI due Dec. 3, 0.1% decline expected after previous 0.2% dip
  • SNB foreign currency reserves due Dec. 6, previous reading at 779B CHF

Overall market sentiment

  • EUR and CHF typically take advantage of risk-off anti-dollar moves
  • Trade tensions between the U.S. and China are still in play while negotiations are ongoing, updates on “phase one” of deal could drive risk appetite
  • Opinion polls leading up to U.K. elections also affecting sentiment

Technical Snapshot

  • Euro pairs are looking mixed at the moment, with only EUR/AUD in strong bullish territory according to long-term moving averages.
  • EUR/NZD is also looking bullish, but this trend is already weakening.
EUR Trend Strength from MarketMilk
EUR Trend Strength from MarketMilk
  • Franc pairs, on the other hand, are mostly on bullish ground based on moving averages.
CHF Trend Strength from MarketMilk
CHF Trend Strength from MarketMilk
  • Stochastic, however, is showing that most of these pairs are already overbought.
CHF Pairs Stochastic from MarketMilk
CHF Pairs Stochastic from MarketMilk

Missed last week’s price action? Check out the EUR & CHF Weekly Review for Nov. 25 – 29!