Brexit uncertainty and a chill ECB pushed EUR and CHF to the top spots last week.
With no major top-tier reports, will the European currencies extend their upswings this week?
Take a look at the major themes you need to watch out for!
Lower tier data
- Industrial production (Sept 14, 9:00 am GMT) to ease from 9.1% to 3.7% in
- ZEW economic sentiment (Sept 15, 9:00 am GMT) seen dropping from 64.0 to 51.5 in September
- Trade balance (Sept 16, 9:00 am GMT) to reflect wider surplus (from 21.2B EUR to 25.1B EUR) in July
Switzerland’s economic releases
- PPI (Sept 15, 6:30 am GMT) to improve from 0.1% to 0.3% in August
- Trade surplus (Sept 17, 6:00 am GMT) to widen from 2.58B CHF to 2.9B CHF in August?
Demand for safe havens in the European region
- The ECB’s chill approach to EUR’s gains will make it easy for traders to buy the euro during risk-averse trading sessions
- Surprising statements from the Fed can inspire volatility for EUR/USD and affect other major EUR pairs
- Brexit-related uncertainty can push traders away from EUR and GBP and into CHF
Technical snapshot
- EMAs hint at potential retracement or reversal opportunities on EUR/NZD and EUR/CHF
- EUR/AUD is seeing short-term bullish pressure
- EUR remains bullish against GBP, JPY, CAD, and USD on the daily time frame
- EUR saw the most volatility against GBP, NZD, JPY, and AUD in the last seven days
- Watch out for potential reversals on EUR/CHF and NZD/CHF’s daily time frames
- CHF remains on short and long-term bullish against CAD, JPY, GBP, and USD
- The franc was most volatile against the pound, comdolls, and the yen in the last seven days
Missed last week’s price action? Read EUR and CHF’s price recap for September 7 – 11!
