Pound (GBP)
The Bank of England’s (BoE) latest interest rate decision will be closely watched this week for any hints as to the bank’s plans going forward. Will some push back against expectations for an imminent rate cut help to bolster the Pound (GBP)? Or will Wednesday’s inflation figures leave GBP investors convinced a June rate cut is on the table?
Euro (EUR)
The Euro (EUR) could get off to a strong start this week if German economic sentiment continues to improve. However, the main focus of the session will be the Eurozone’s latest PMIs. Further growth in the bloc’s private sector could act as a key source of support for the single currency.
US Dollar (USD)
The Federal Reserve will be centre stage this week as it delivers its latest policy decision. While the US central bank is expected to leave its monetary policy untouched, if it pushes back on bets for an interest rate cut in June, the US Dollar (USD) may surge.
Australian Dollar (AUD)
The Reserve Bank of Australia’s (RBA) latest interest rate decision is likely to act as the main catalyst of movement for the Australian Dollar (AUD) this week. Could dovish forward guidance undermine AUD?
South African Rand (ZAR)
The South African Rand (ZAR) may face volatility this week. While US monetary policy and local load shedding measures may weigh on ZAR sentiment, South Africa’s latest inflation figures could reflect positively on the Rand.
Canadian Dollar (CAD)
An expected uptick in domestic inflation last month may help to underpin the Canadian Dollar (CAD) this week if it eases Bank of Canada (BoC) rate cut speculation.
New Zealand Dollar (NZD)
The New Zealand Dollar (NZD) looks poised to strengthen this week if domestic GDP figures confirm New Zealand dodged a recession at the end of 2023.