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
- 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
- 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
