Pound (GBP)
Aside from this morning’s finalised GDP figures, notable UK economic data is in short supply this week. This may leave the pound (GBP) to take its cues from wider market trends. An optimistic mood may help to extend Sterling’s recent gains.
Euro (EUR)
The main catalyst of movement for the euro (EUR) this week will be the publication of the latest Eurozone consumer price index. If the preliminary figures report inflation cooled again in September, it’s likely to stoke European Central Bank (ECB) interest rate cut bets and soften EUR demand.
US dollar (USD)
The latest US payroll figures will be in the spotlight this week. Bets for another 50bps interest rate cut from the Federal Reserve are likely to be strengthened if the US labour market continued to cool in September, which in turn could see the US dollar (USD) test new lows.
Australian dollar (AUD)
Australia’s latest trade figures may drive movement in the Australian dollar (AUD) this week. If exports continued to rise in August, it might help to strengthen the ‘Aussie’ in the latter half of the week.
South African rand (ZAR)
The South African rand (ZAR) is likely to remain highly sensitive to market sentiment this week, although some mid-tier domestic data releases may also influence the emerging market currency.
Canadian dollar (CAD)
Canada’s latest Ivey PMI may provide a boost to the Canadian dollar (CAD) this week as September’s index is expected to report the country’s private sector returned to growth.
New Zealand dollar (NZD)
Movement in the New Zealand dollar (NZD) is likely to be tied to market risk dynamics this week as NZD data remains in short supply.