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It’s all about the PMI readings once again for the euro zone this week, and the ECB minutes might shake things up, too! Here’s what’s expected.

German ZEW economic sentiment index (Feb. 18, 10:00 am GMT)

  • Leading indicator of economic performance based on survey of German institutional investors and analysts
  • Index is expected to fall from 26.7 to 20.0 in February
  • Actual figures have been beating expectations for the past five months

Euro zone flash PMIs (Feb. 21)

  • Reading below 50.0 reflects contraction, above 50.0 signals expansion
  • French flash services PMI to climb from 51.0 to 5.14 in Feb
  • French flash manufacturing PMI to dip from 51.1 to 50.8
  • German flash services PMI to fall from 45.3 to 44.8
  • German flash manufacturing PMI to slide from 54.2 to 53.9
  • Euro zone flash services PMI to dip from 52.5 to 52.4
  • Euro zone flash manufacturing PMI to drop from 47.9 to 47.4

Technical snapshot

  • Stochastic shows that euro pairs are all oversold, with EUR/USD and EUR/CAD being the most bullish of the bunch.
EUR Pairs Stochastic from MarketMilk
EUR Pairs Stochastic from MarketMilk
CHF Trend Strength from MarketMilk
CHF Trend Strength from MarketMilk
  • In particular, GBP/CHF is deep in bullish territory while AUD/CHF, EUR/CHF, and NZD/CHF are all very bearish.