Pound (GBP)
The only GBP data of note this week will be the publication of the UK’s latest services PMI. March’s finalised figures could drag on the pound (GBP) if they confirm activity in the service sector slowed to a three-month low.
Euro (EUR)
The eurozone’s latest consumer price index will be centre stage this week. March’s preliminary CPI figures may act as a headwind for the euro (EUR) if another cooling of inflation bolsters bets for an interest rate cut from the European Central Bank (ECB) in April.
US dollar (USD)
The US dollar (USD) faces potential resistance later this week with the publication of the latest US non farm payroll report. A slowdown in employment growth may be seen as encouraging the Federal Reserve to cut interest rates before the summer.
Australian dollar (AUD)
Australia’s latest trade figures may act as the primary catalyst of movement for the Australian dollar (AUD) this week. Will a narrowing of Australia’s trade surplus in February lead the ‘Aussie’ to stumble at the end of the session?
South African rand (ZAR)
In the absence of any notable domestic data, movement in the South African rand (ZAR) is likely to be tied to market risk dynamics this week. Expect to see ZAR exchange rates falter if a cautious mood prevails.
Canadian dollar (CAD)
The Canadian dollar (CAD) may come under pressure later this week if data showing an expected rise in domestic unemployment last month strengthens Bank of Canada (BoC) rate cut speculation.
New Zealand dollar (NZD)
With NZD data thin on the ground this week, the New Zealand dollar (NZD) could be left vulnerable to losses if a risk-off market mood prevails.