Pound (GBP)
The UK’s latest GDP figures will likely act as the primary catalyst for movement for the pound (GBP) this week. Expect Sterling to falter if growth slows to a crawl in the second quarter.
Euro (EUR)
Germany’s latest ZEW economic sentiment index will be a key focus for EUR investors this week. If morale shows signs of deteriorating this month, it will likely weaken the appeal of the euro (EUR).
US dollar (USD)
The latest US consumer price index will be closely watched by investors this week. Economists forecast inflation accelerated again in July, which could temper Federal Reserve rate cut bets and help reverse the US dollar’s (USD) recent losses.
Australian dollar (AUD)
The Reserve Bank of Australia (RBA) will deliver its latest interest rate decision this week, with an expected cut likely to weigh on the Australian dollar (AUD).
South African rand (ZAR)
Local retail sales data may provide a lift for the South African rand (ZAR) later this week, with economists predicting sales growth will have accelerated sharply in June.
Canadian dollar (CAD)
In the absence of any notable domestic data, movement in the Canadian dollar (CAD) is likely to be tied to oil price dynamics.
New Zealand dollar (NZD)
Market risk sentiment will likely act as the main driver for the New Zealand dollar (NZD) this week. But the ‘kiwi’ may also be influenced by domestic manufacturing data, with another contraction in the factory sector likely to apply pressure on NZD in the latter half of the week.