There are no major reports due from the euro zone and Swiss economy this week, so traders could continue to keep close tabs on pandemic-related updates.
Mid-tier economic releases
- German Ifo business climate index (Feb. 22, 9:00 am GMT) to improve slightly from 90.1 to 90.5 in February
- German GfK consumer climate index (Feb. 25, 7:00 am GMT) to rise from -15.6 to -14.0 this month
- French consumer spending, preliminary CPI and GDP due on Feb. 26, 7:45 am GMT
- Swiss KOF economic barometer (Feb. 26, 8:00 am GMT) to improve from 96.5 to 97.2 this month
Pandemic-related updates
- Germany extended its lockdown until March 14, as the U.K. variant of the virus continues to spread
- Restrictions in other European nations might be tightened as well, further crippling sentiment and economic activity in the region
- EU vaccination program is hitting roadblocks as opposition for the AstraZeneca vaccine increases
Technical Snapshot
- Long-term trend strength analysis paints a mixed picture for euro pairs
- EUR/CHF, EUR/JPY and EUR/USD could be in for more gains based on this indicator
- Stochastic suggests that most EUR pairs are in for gains, with EUR/AUD, EUR/NZD, EUR/CAD, and EUR/GBP all in the oversold region
- EUR/CHF is looking overbought while the rest are in the neutral area
- As for CHF pairs, the same oscillator places majority in the overbought zone
- Only USD/CHF and CHF/JPY aren’t showing clear momentum for now
