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Market sentiment has pushed these European currencies around recently, but the focus could shift back to the virus and lockdown measures.

Check out the potential catalysts you should watch out for if you’re trading the euro this week.

Closely watched economic releases

  • Lower-tier releases don’t usually see sustained moves, but they can cause volatility that could present intraday trading opportunities
  • Final CPI readings (Nov. 18, 11:00 am GMT) to show no revisions to -0.3% headline figure and 0.2% core figure
  • Eurozone current account balance (Nov. 19, 10:00 am GMT) to show wider surplus compared to previous 19.9 billion EUR reading
  • Consumer confidence index (Nov. 20, 4:00 pm GMT) to slip from -16 to -18 this month, reflecting increased pessimism

Overall euro demand

  • Coronavirus cases in large eurozone nations and the prospect of stricter or prolonged lockdowns will weigh on the region’s economic recovery trends
  • Note that Germany has been reporting record increases in the number of confirmed cases lately, likely resulting to weakening euro demand
  • Speeches from European Central Bank (ECB) President Lagarde will likely hint at further easing in December. Emphasis on downside risks could limit EUR’s gains
  • EU and U.K. reps will continue Brexit talks this week, with some officials hinting at a bit of progress in key trade issues

Potential catalysts for CHF

  • Swiss trade balance (Nov. 19, 8:00 am GMT) to show a larger surplus from earlier 3.28 billion CHF figure
  • Overall market sentiment could also push CHF pairs in a particular direction, especially if traders continue to be wary of the U.S. dollar and the euro

Technical snapshot

  • Moving averages are putting most euro pairs in bullish territory, with the exception of EUR/NZD and EUR/AUD
  • EUR/GBP is looking bullish but is showing a weakening trend
EUR Pairs Moving Averages from MarketMilk
EUR Pairs Moving Averages from MarketMilk
EUR Pairs Stochastic from MarketMilk
EUR Pairs Stochastic from MarketMilk
  • The same oscillator puts AUD/CHF and NZD/CHF in the overbought region while the rest of the franc pairs are on neutral grounds
CHF Pairs Stochastic from MarketMilk
CHF Pairs Stochastic from MarketMilk
  • CHF was most volatile against NZD, GBP, and AUD in the last seven days
CHF Pairs Volatility from MarketMilk
CHF Pairs Volatility from MarketMilk

Missed last week’s price action? Read EUR & CHF’s price recap for Nov. 9 – 13!