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Not a lot of major releases from the euro zone or Switzerland this week, but we’ve got plenty of catalysts that could affect overall risk sentiment.

Both the euro and franc managed to shrug off downbeat data last week as risk-off flows were in play.

Missed last week’s price action? Check out the EUR & CHF price review for April 27 – May 1!

Here’s what you should look out for next:

Low-tier euro zone data

  • Euro zone Sentix investor confidence index (May 4, 9:30 am GMT) to improve from -42.9 to -25.9
  • German factory orders (May 6, 7:00 am GMT) to show 10% slump
  • German industrial production (May 7, 7:00 am GMT) to show 7.3% drop
  • French industrial production (May 7, 7:45 am GMT) to fall by 10%

Low-tier Swiss data

  • Manufacturing PMI (May 4, 8:30 am GMT) to dip from 43.7 to 35.2
  • SECO consumer climate index (May 5, 6:45 am GMT) to slip from -9 to -40
  • Swiss CPI (May 5, 7:30 am GMT) to show 0.1% decline
  • SNB foreign currency reserves (May 7, 8:00 am GMT)
  • Swiss jobless rate (May 8, 6:45 am GMT) to rise from 2.8% to 3.4%

Overall market sentiment

  • The euro and franc were able to benefit from a surge in risk aversion and dollar weakness as Trump made another batch of threats versus China.
  • Central bank announcements and jobs releases are queued this week, and these could also have a strong impact on overall sentiment.

Technical snapshot

  • Stochastic puts most euro pairs on neutral grounds, with the exception of EUR/USD seeing overbought conditions.
EUR Forex Pairs Stochastic from MarketMilk
EUR Forex Pairs Stochastic from MarketMilk
  • Moving averages also signal a long-term bearish trend for EUR/USD, along with EUR/JPY and EUR/CHF.
  • Meanwhile, EUR/CAD and EUR/NZD are looking very bullish.
EUR Forex Pairs Moving Averages from MarketMilk
EUR Forex Pairs Moving Averages from MarketMilk
  • As for CHF pairs, Williams %R shows that CAD/CHF, USD/CHF and NZD/CHF are oversold.
CHF Forex Pairs Williams %R from MarketMilk
CHF Forex Pairs Williams %R from MarketMilk