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Another busy week for the common currency! This time we’ll see tons of PMI reports from the Eurozone.

Meanwhile, the SNB has an announcement scheduled.

Here are the deets you need to know if you have EUR or CHF trades open or are planning to trade them in the coming days:

Eurozone flash PMIs

  • France’s manufacturing PMI (Sept 23, 7:15 am GMT) is expected to go back to expansionary levels (51.1) after dipping to 49.8 in August
  • France’s services PMI (Sept 23, 7:15 am GMT) to inch higher from 51.5 to 51.8 in September
  • Germany’s manufacturing PMI (Sept 23, 7:30 am GMT) seen printing better numbers (from 52.2 to 52.7) for a fifth consecutive month in September
  • Germany’s services PMI (Sept 23, 7:30 am GMT) could jump from 52.5 to 52.9
  • Eurozone’s manufacturing PMI (Sept 23, 8:00 am GMT) seen at 52.0 after 51.7 reading in August
  • Eurozone’s services PMI (Sept 23, 8:00 am GMT) to break deceleration concerns by rising from 50.5 to 50.9
  • Germany’s Ifo business climate (Sept 24, 8:00 am GMT) to rise to a 7-month high in September?

SNB’s monetary policy decision (Sept 24, 7:30 am GMT)

  • No changes expected from the Swiss National Bank (SNB) this month
  • Keep your eyes peeled for updates on the SNB’s FX intervention plans

Other key events

  • European Council members will huddle in Brussels on September 24-25 to talk single market, COVID-19, and relations with Turkey, Russia, and China. Watch out for hints of additional stimulus to EU’s capital markets
  • Seven Italian regions will be voting regional presidency on Sept 20 – 21. Four out of seven regions are governed by Partito Democratico (PD), a party currently in a coalition government with the Five Star Movement (M5S) and Italia Viva. Key losses could present political instability for Italy

Technical snapshot

  • Stochastic considers the euro “overbought” against the Loonie
  • EUR is “oversold” against JPY and NZD on the daily time frame
EUR Forex Pairs Stochastic from MarketMilk
EUR Forex Pairs Stochastic from MarketMilk
  • EMAs reflect the euro’s short and long-term bearish trends against the Aussie and Kiwi
  • EUR remains bullish against GBP, USD, CAD, and CHF
  • We may see retracement or reversal opportunities on EUR/JPY’s daily time frame
EUR Forex Pairs EMAs from MarketMilk
EUR Forex Pairs EMAs from MarketMilk
  • EUR saw the most volatility against GBP, JPY, AUD, and NZD in the last seven days
EUR Forex Pairs Volatility from MarketMilk
EUR Forex Pairs Volatility from MarketMilk
  • Stochastic is flagging CHF’s “overbought” status against CAD
  • CHF/JPY is “oversold” on the daily time frame
CHF Forex Pairs Stochastic from MarketMilk
CHF Forex Pairs Stochastic from MarketMilk
  • CHF was most volatile against GBP, NZD, JPY, and AUD in the last seven days
CHF Forex Pairs Volatility from MarketMilk
CHF Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read EUR & CHF’s price recap for September 14 – 18!