Pound (GBP)
The Bank of England (BoE) is due to announce its latest interest rate decision later this week. While markets widely expect the bank to keep rates unchanged, the pound (GBP) could face additional downside pressure if policymakers signal that another cut remains on the table before the end of 2025.
Euro (EUR)
Germany’s upcoming factory orders and industrial production reports are set to drive euro (EUR) sentiment this week. Any fresh evidence of weakness in the country’s crucial manufacturing base may worry investors and weigh on the single currency.
US dollar (USD)
With the ongoing US government shutdown preventing the release of the key non-farm payrolls report, attention will turn to mid-tier jobs data for direction. Should October’s employment indicators suggest further cooling in the labour market, the US dollar (USD) may lose ground.
Australian dollar (AUD)
The Reserve Bank of Australia’s (RBA) policy meeting will be a major focus for AUD investors early in the week. If the bank opts to hold rates steady while maintaining a hawkish stance on inflation, the Australian dollar (AUD) could strengthen.
South African rand (ZAR)
In the absence of major domestic releases, the South African rand (ZAR) is likely to take its cues from global risk appetite. A shift towards risk aversion could see the rand weaken against its peers.
Canadian dollar (CAD)
The Canadian dollar (CAD) may struggle for support later this week as markets brace for Canada’s latest labour market report. Forecasts suggest that unemployment inched higher in October, which could undermine the currency.
New Zealand dollar (NZD)
New Zealand’s third-quarter jobs report is expected to show another rise in unemployment, potentially dragging on the New Zealand dollar (NZD) as signs of a cooling labour market temper expectations for further monetary tightening.
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