There will be a variety of growth-related indicators released next week, as the Purchasing Managers’ Index (PMI) for the UK manufacturing, construction, and services sectors are due out.

The Swiss franc rallied against the US dollar and Japanese yen last week, pushing USD/CHF below key trendline support to 4-month lows.

The Swiss Franc finished the week lower against major forex counterparts, as Swiss National Bank verbal intervention increased fears that the bank would once again intervene in foreign exchange markets.

The British pound may see its recent gains challenged in the week ahead as a big dollop of negative economic data crosses the wires to weigh on the exchange rate.

On Wednesday, UK services PMI is anticipated to increase for the fifth straight month in April to 46.3 from 45.5, adding to evidence that confidence is rising.

There are still significant downside risks for the UK’s economy and financial system.

The Japanese yen may correct higher as technical considerations temporarily overtake momentum from increasingly grim fundamental news.

The British Pound faces substantial downside risks next week as a heavy dollop of negative economic data points to ever-deepening recession.

The Bank of Japan is expected to announce late on March 17 that they have left their target rate unchanged at 0.10 percent, but the release of the Bank’s monthly report at 01:00 ET on March 18 should provide more information on their view of economic conditions.