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Can the Swiss franc and the euro continue to bank on safe-haven flows for yet another week? Or will upcoming reports steal the show?

ECB head Lagarde’s speeches

  • Chairperson Lagarde is due to give testimonies in Paris (Feb. 5, 12:15 pm GMT) and in Brussels (Feb. 6, 8:00 am GMT)
  • She is expected to talk about the economy and monetary policy before the European Parliament Economic and Monetary Affairs Committee.
  • Euro traders are expecting to get more insights on the ECB’s policy review and how the current market situation could affect their outlook.

Low-tier Swiss data

  • Swiss manufacturing PMI due on Feb. 3, 8:30 am GMT
  • Small improvement from 50.2 to 50.3 eyed for January
  • SECO consumer climate index due Feb. 5, 6:45 am GMT
  • Uptick from -10 to -8 or weaker pessimism expected for January
  • SNB foreign currency reserves due Feb. 7, 8:00 am GMT
  • Increase in level of reserves could be indicative of currency intervention

Technical snapshot

  • Stochastic is showing a mixed picture of euro pairs, with EUR/AUD and EUR/NZD both overbought while EUR/CHF and EUR/JPY are oversold.
EUR Pairs Stochastic from MarketMilk
EUR Pairs Stochastic from MarketMilk
  • Meanwhile franc pairs are mostly oversold. AUD/CHF, CAD/CHF, and NZD/CHF are the most bullish of the bunch.
CHF Pairs Stochastic from MarketMilk
CHF Pairs Stochastic from MarketMilk

Missed last week’s price action? Read the EUR & CHF price recap for January 27 – 31!