Pound (GBP)
The Bank of England (BoE) will conclude its latest policy meeting this week. Investors are currently split on whether the bank will loosen its monetary policy in August or hold fire for a September rate cut. This uncertainty could lead to some dramatic swings in the pound (GBP) later in the week.
Euro (EUR)
The spotlight for EUR investors this week will be on the Eurozone’s GDP figures for the second quarter. Economists forecast the bloc’s economy will have expanded at a steady pace in the three months to July. Will this be enough to strengthen the euro (EUR)?
US dollar (USD)
The Federal Reserve will deliver its latest interest rate decision on Wednesday. No policy changes are expected from the bank this month, but its forward guidance could trigger some volatility in the US dollar (USD) depending on whether the bank confirms or pushes back against an expected September rate cut.
Australian dollar (AUD)
Looking ahead, Australia’s latest quarterly inflation print may act as the primary catalyst for the Australian dollar (AUD) this week. The release may set the tone ahead of the Reserve Bank of Australia’s (RBA) interest rate decision in early August. Could an acceleration of inflation support the bank’s suggestion it could hike rates in the future?
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. Will a cautious mood see investors shy away from the emerging market currency?
Canadian dollar (CAD)
Canada will publish its latest monthly GDP figures on Wednesday. Economists forecast growth will have decelerated a little in May and June. Could this potentially drag on the Canadian dollar (CAD) this week?
New Zealand dollar (NZD)
New Zealand economic data is in short supply this week, likely leaving the New Zealand dollar (NZD) sensitive to market risk appetite. Will a prevailing risk-off mood leave the ‘kiwi’ vulnerable to losses?