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Can this week’s set of leading indicators and low-tier data push the euro and franc in a clear direction this week?

Or are we about to see another round of choppy price action? Here’s what’s coming up!

Eurozone leading indicators

  • Sentix investor confidence index (Aug. 10, 9:30 am GMT) to improve from -18.2 to -16.0
  • German ZEW economic sentiment index (Aug. 11, 10:00 am GMT) to dip from 59.3 to 55.0
  • Eurozone ZEW economic sentiment index (Aug. 11, 10:00 am GMT) to fall from 59.6 to 55.3
  • Eurozone flash employment change (Aug. 14, 10:00 am GMT) to print another quarterly drop in hiring?
  • Eurozone flash GDP (Aug. 14, 10:00 am GMT) to indicate 12.1% contraction for Q2

Low-tier Swiss data

  • Unemployment rate (Aug. 10, 6:45 am GMT) to climb from 3.3% to 3.4% in July
  • Swiss PPI (Aug. 14, 7:30 am GMT) to show another increase in producer prices after earlier 0.5% uptick

Overall market sentiment

  • Risk-off flows tend to benefit the lower-yielding euro and franc, especially while the U.S. dollar is under downside pressure
  • There is still a lot of market focus on second wave COVID-19 fears as another round of lockdown measures could prompt a flight to safety
  • Rallying gold prices are also in focus, but traders seem wary of buying up the positively-correlated franc due to SNB intervention threats

Technical snapshot

  • Stochastic paints a mixed picture of EUR pairs, with the majority on neutral grounds and the rest in overbought territory
  • EUR/NZD, EUR/USD, and EUR/JPY are giving off bearish vibes based on this oscillator
EUR Pairs Stochastic from MarketMilk
EUR Pairs Stochastic from MarketMilk
EUR Pairs Trend Strength from MarketMilk
EUR Pairs Trend Strength from MarketMilk
CHF Pairs Trend Strength from MarketMilk
CHF Pairs Trend Strength from MarketMilk

Missed last week’s price action? Read EUR & CHF’s price recap for Aug. 3 – 7!