Pound (GBP)
The UK’s latest jobs report will be in the spotlight for GBP investors this week. If there are any further signs that the UK labour market is cooling, it may stoke Bank of England (BoE) interest rate cut bets and drag on the pound (GBP).
Euro (EUR)
The Eurozone’s latest industrial production figures will be the only EUR data of note this week. Potentially leaving the euro (EUR) to be primarily influenced by any EU-US trade developments.
US dollar (USD)
Centre stage this week will be the latest US consumer price index. Economists forecast that Trump’s tariffs will have started to feed back into inflation last month. An acceleration of inflationary pressures will likely temper Federal Reserve rate cut bets and lift the US dollar (USD).
Australian dollar (AUD)
Australia’s latest business and consumer confidence indexes will be in focus for AUD investors this week. If morale shows any signs of improvement, it could help to underpin the Australian dollar (USD) through the first half of the session.
South African rand (ZAR)
The direction of the South African rand (ZAR) this week is likely to be closely linked to Finance Minister Enoch Godongwana’s budget. The third revision to his budget will be debated in the National Assembly on Wednesday. Any further setbacks could prove disastrous for the rand.
Canadian dollar (CAD)
In the absence of any notable domestic data, movement in the Canadian dollar (CAD) this week is likely to be linked to oil price dynamics and the currency’s positive correlation with the US dollar.
New Zealand dollar (NZD)
The New Zealand dollar (NZD) is likely to be driven by wider market trends this week as NZD data remains in short supply.