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A bunch of low-tier reports are lined up from the eurozone while the Swiss economy has a couple of releases that might be worth watching.
Low-tier eurozone data
- Preliminary CPI readings from Germany, Spain, and Italy (Nov. 30) to show another round of price declines this month
- Eurozone flash headline CPI (Dec. 1, 11:00 am GMT) to print 0.2% dip in inflation, core version to indicate another 0.2% uptick
- German retail sales (Dec. 1, 8:00 am GMT) to post 1.1% rebound in spending
- German unemployment change (Dec. 1, 9:55 am GMT) to show 10K increase in joblessness
- German factory orders (Dec. 4, 8:00 am GMT) to post stronger 1.1% gain after earlier 0.5% uptick
Mid-tier Swiss releases
- Retail sales (Nov. 30, 8:30 am GMT) to post 0.6% increase in spending, stronger than earlier 0.3% uptick
- KOF economic barometer (Nov. 30, 9:00 am GMT) to dip from 106.6 to 101.0
- Q3 GDP (Dec. 1, 7:45 am GMT) to show 5.9% rebound in growth
- Manufacturing PMI (Dec. 1, 9:30 am GMT) to fall from 52.3 to 51.5 this month
- CPI (Dec. 2, 8:30 am GMT) to post 0.1% decline in price pressures
Overall market sentiment
- These lower-yielding European currencies tend to benefit from risk-off flows, although traders appear wary of the euro on account of rising COVID-19 cases in the region
- Increased focus on vaccine developments and distribution could keep risk appetite in play, which would likely be bearish for the euro and franc
Technical Snapshot
- Based on the Stochastic oscillator, EUR/USD and EUR/CAD are giving off bearish vibes
- Meanwhile, EUR/NZD is looking bullish in the overbought region

- Moving averages for franc pairs suggest that CHF/JPY is in for more gains while GBP/CHF, CAD/CHF, and USD/CHF could slide

Missed last week’s price action? Read EUR & CHF’s price recap for Nov. 23 – 27!