Pound (GBP)
The release of the UK’s latest GDP data is expected to be the main driver of the pound (GBP) this week. Should May’s figures reveal that economic growth rebounded, it may provide Sterling with a welcome boost.
Euro (EUR)
With few major Eurozone economic releases scheduled, the euro (EUR) is likely to take its direction from broader market sentiment this week, particularly through its inverse trade relationship with the US dollar (USD).
US dollar (USD)
Investors will be paying close attention to the latest US consumer price index this week. If inflation cooled as forecast in June, expectations for further Federal Reserve policy tightening may soften, weighing on the US dollar.
Australian dollar (AUD)
Australia’s latest business and consumer confidence readings could provide the Australian dollar (AUD) with some support this week if the surveys indicate an improvement in overall sentiment.
South African rand (ZAR)
Without any significant domestic economic releases, the South African rand (ZAR) is likely to remain sensitive to external influences, with renewed Middle East tensions and weaker market sentiment posing potential headwinds.
Canadian dollar (CAD)
The Bank of Canada’s (BoC) latest policy announcement is expected to be the primary catalyst for the Canadian dollar (CAD) this week. While interest rates are widely forecast to remain unchanged, the ‘loonie’ may come under pressure if easing inflation concerns encourage a more cautious tone from policymakers.
New Zealand dollar (NZD)
The New Zealand dollar (NZD) is expected to be driven primarily by shifts in market risk appetite this week, with the ‘kiwi’ likely to come under pressure if investors continue to favour safer assets.
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