On Monday, the EURCHF currency pair has data from the German, European and Swiss economies.
EURCHF – Daily Chart
EURCHF trades at 0.93 after recent Swiss franc strength, and euro bulls will want this to be a bottom for a push to the 0.9418 resistance level.
Germany’s trade balance will be the first economic release at 3pm HKT on Monday. Economists are expecting exports to recover from a decline last month. A reading of 0.3% is expected after last month’s -0.2%.
Germany’s former powerhouse export economy has slumped after pandemic woes and a slowdown in the global economy after an initial bounce. China’s slower economic recovery has also hurt Germany, pushing the economy into recession.
That will be followed by inflation and retail sales from the Swiss economy. The inflation rate is expected to rise to 1.5% from 1.4%. Retail sales were -0.1% in the country last month, and Swissie bulls will want to see a recovery.
At 6pm HKT, retail sales will be released from the European economy, where last month’s -1.2% drop is expected to worsen to -1.5%. The release of consumer confidence simultaneously should give traders a good idea of the following path for the euro versus the Swiss franc.
