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It’s all about low-impact reports from both the euro zone and Swiss economy this week, but these should be worth watching to gauge how higher-tier reports might turn out later on.

Low-tier euro zone data (starting Jan. 6, 8:00 am GMT)

  • German retail sales to rebound by 1.1% after earlier 1.9% drop
  • Euro zone Sentix investor confidence index to climb from 0.7 to 3.0 in Jan
  • Euro zone flash headline CPI to advance from 1.0% to 1.3%
  • Euro zone flash core CPI to hold steady at 1.3% in Dec
  • German factory orders to recover by 0.2% after previous 0.4% drop
  • German industrial production to post 0.9% uptick after earlier 1.7% slide

Low-tier Swiss data (starting Jan. 7, 8:30 am GMT)

  • Swiss CPI to post another 0.1% dip in Dec
  • Swiss retail sales to increase by 0.5% versus earlier 0.7% uptick
  • SNB foreign currency reserves due on Jan. 9, 9:00 am GMT

Overall market sentiment

  • The euro and franc typically take advantage of risk-off flows, especially when traders are feeling hesitant to buy the safe-haven dollar.
  • Geopolitical risks stemming from the conflict between the U.S. and Iran have been present since the start of the year.

Technical Snapshot

  • Stochastic is showing that most euro pairs are bullish, with EUR/CHF and EUR/CAD looking most oversold among the bunch.
EUR Pairs Stochastic
EUR Pairs Stochastic from MarketMilk
  • Franc pairs are also looking mixed, and moving averages reveal that the Swiss currency is most bearish against the pound and Kiwi.
CHF Pairs Moving Averages from MarketMilk
CHF Pairs Moving Averages from MarketMilk