Pound (GBP)
UK economic data is in short supply this week. As a result, the increasingly risk-sensitive pound (GBP) may be sensitive to market sentiment. If the current market selloff persists through the week Sterling is likely to struggle.
Euro (EUR)
Data from Germany’s manufacturing sector may act as the primary catalyst of movement for the euro (EUR) this week. Could a rebound in factory orders and industrial production in June help to strengthen the single currency?
US dollar (USD)
Concerns over the state of the US economy are continuing to grow in the wake of Friday’s lacklustre US payroll figures. This has seemingly triggered a global market selloff which is driving demand for the safe-haven US dollar. If this trend persists through the week, then we may see the ‘greenback’ continue to attract support.
Australian dollar (AUD)
The Reserve Bank of Australia (RBA) will deliver its latest interest rate decision this week. No policy changes are expected this month, but the bank’s forward guidance could trigger some volatility in the Australian dollar (AUD).
South African rand (ZAR)
In the continued absence of any notable domestic data, movement in the South African rand (ZAR) is likely to remain tied to market risk dynamics this week. Will the current market jitters take a heavy toll on the emerging market currency?
Canadian dollar (CAD)
Canada is scheduled to release its latest jobs report later this week. Unemployment is expected to have held at its highest level in over two years in July. Could this act as a headwind for the Canadian dollar (CAD)?
New Zealand dollar (NZD)
New Zealand will publish its latest jobs data overnight on Tuesday. Economists forecast unemployment will have risen in the second quarter, potentially applying pressure to the ‘New Zealand dollar (NZD).