Pound (GBP)
With UK data releases thin on the ground this week, market attention may shift to Chancellor Rachel Reeves’s upcoming autumn budget. Any lingering fiscal concerns could weigh further on the pound (GBP).
Euro (EUR)
The European Central Bank (ECB) isn’t expected to make any policy adjustments this week, placing the focus for euro (EUR) traders firmly on the Eurozone’s GDP figures. A lacklustre third-quarter result may push the currency lower.
US dollar (USD)
The US dollar (USD) is likely to be driven by the Federal Reserve’s latest interest rate decision this week. A 25bps rate cut is already priced in, so attention will turn to the Fed’s forward guidance. A dovish tone could see USD come under renewed selling pressure.
Australian dollar (AUD)
Australia’s quarterly inflation report will be key for the Australian dollar (AUD) in the days ahead. If price growth accelerates in Q3, it could dampen expectations for Reserve Bank of Australia (RBA) rate cuts and offer the ‘Aussie’ some support.
South African rand (ZAR)
With a lack of domestic data in this week’s calendar, the South African rand (ZAR) will likely be at the mercy of global risk sentiment this week.
Canadian dollar (CAD)
The Canadian dollar (CAD) may struggle for momentum this week as the Bank of Canada (BoC) is widely forecast to deliver another interest rate cut when it announces its latest decision on Wednesday.
New Zealand dollar (NZD)
Without major local data releases, the New Zealand dollar (NZD) is expected to follow broader market trends, potentially gaining ground if US-China trade relations show signs of improvement.
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