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There are no major catalysts lined up from both the euro zone and the Swiss economy this week, but these mid-tier releases are worth keeping tabs on.

After all, leading indicators from the region’s top economies provide good clues on how top-tier data might turn out.

Euro zone leading indicators

  • German retail sales (Feb. 1, 7:00 am GMT) to show 2.0% drop in spending for December after earlier 1.9% increase
  • Euro zone flash GDP (Feb. 2, 10:00 am GMT) to indicate 1.4% contraction in Q4 2020, following earlier 12.5% expansion
  • Euro zone flash CPI (Feb. 3, 10:00 am GMT) to show 0.4% increase in headline inflation and 0.7% gain in core inflation
  • German factory orders (Feb. 5, 7:00 am GMT) to indicate 1.2% decline in December

Mid-tier Swiss reports

  • Retail sales (Feb. 1, 7:30 am GMT) to slip from 1.7% to 1.5% y/y in December
  • Manufacturing PMI (Feb. 1, 8:30 am GMT) to fall from 58.0 to 56.5 in January
  • SECO consumer climate index (Feb. 4, 6:45 am GMT) to dip from -13 to -16 in January
  • SNB foreign currency reserves (Feb. 5, 8:00 am GMT) to reveal whether or not the central bank is intervening in the FX market

Technical Snapshot

  • Williams %R paints a mixed picture of euro pairs, placing EUR/AUD and EUR/JPY in bearish territory while leaving the rest in the neutral zone
EUR Forex Pairs Williams %R from MarketMilk
EUR Forex Pairs Williams %R from MarketMilk
  • Moving averages also show that EUR/AUD could be in for declines, along with EUR/NZD and EUR/GBP
  • EUR/JPY is on a strong bullish run based on this indicator while the rest are on a weakening bullish trend
EUR Forex Pairs Moving Averages from MarketMilk
EUR Forex Pairs Moving Averages from MarketMilk
  • As for CHF pairs, moving averages suggest that majority might all be in for more gains
  • Only USD/CHF is in bearish territory, although this trend might be weakening
CHF Pairs Trend Strength from MarketMilk
CHF Pairs Trend Strength from MarketMilk