The Euro
European Headlines and Economic data
Monday:
- Italy business outlook improves sharply in second quarter, survey shows
- IHS Markit German business outlook: Outlook for jobs gloomiest since 2013 amid increased profit worries
- IHS Markit France business outlook: Weakest business activity growth expectations since October 2016
Tuesday:
- The ZEW Indicator of Economic Sentiment for Germany decreased slightly to -24.5 in July 2019 – this was likely the catalyst for the broad move lower in euro pairs during the morning London session, supporting the idea that the ECB will have to return to high levels of stimulus to support the economy
- Euro area international trade in goods surplus €23.0B
- EU braces for no-deal Brexit or another delay under Boris Johnson
- Villeroy Says ECB’s Policy Guide Is Economic Data, Not Markets
Wednesday:
- Annual inflation up to 1.3% in the euro area; Stable at 1.6% in the EU
- Production in construction down by 0.3% in both euro area and EU28
- Ahead of policy meeting, ECB’s Coeure says bank is ready to act if needed
Thursday:
Friday:
The Swiss Franc
Swiss Headlines and Economic data
Monday:
Tuesday:
- The Swiss franc is broadly lower during the morning London session, likely following the euro lower as it took a hit after ZEW economic sentiment survey data continues to show the economy at low levels.
Thursday:
Friday:
- Swiss franc bulls recovered during the Friday London and U.S. trading sessions, and without a direct catalyst from Switzerland or Europe, it’s possible the franc was supported by global risk-off sentiment as equity markets take a fall and/or geopolitical tensions rising once again after Iran says its seized a British oil tanker.
