Pound (GBP)
Alongside the Bank of England’s (BoE) latest policy announcement, the pound (GBP) is also likely to be influenced by developments surrounding the Makerfield by-election this week, especially given its potential implications for the Labour government.
Euro (EUR)
Germany’s latest ZEW economic sentiment survey may drag on the euro (EUR) this week if it indicates confidence in the Eurozone’s largest economy remains in negative territory.
US dollar (USD)
A formal peace agreement between the US and Iran could undermine support for the safe-haven US dollar (USD) this week. However, any hawkish signals from the Federal Reserve following its latest interest rate decision may help cushion losses for the ‘greenback’.
Australian dollar (AUD)
While improving market sentiment is likely to benefit the Australian dollar (AUD) this week, any cautious commentary from the Reserve Bank of Australia (RBA) after its latest policy meeting could curb the currency’s gains.
South African rand (ZAR)
The South African rand (ZAR) could climb to fresh multi-month highs this week, supported by hopes for stability in the Middle East and a significant decline in global oil prices.
Canadian dollar (CAD)
The Canadian dollar (CAD) may struggle to find support this week as falling oil prices reduce the appeal of the commodity-linked currency.
New Zealand dollar (NZD)
The New Zealand dollar (NZD) could remain well supported this week as economic data is forecast to show a strong acceleration in domestic growth during the first quarter.
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