Pound (GBP)
The UK economic calendar is packed with releases this week, led by the latest employment and inflation figures. The pound (GBP) could strengthen if the data reinforces expectations for the Bank of England (BoE) to raise interest rates.
Euro (EUR)
The Eurozone’s preliminary August PMIs are likely to command the most attention from EUR investors this week. Evidence that private-sector activity is holding up could provide the euro (EUR) with some support later in the week.
US dollar (USD)
The minutes from the Federal Reserve’s July policy meeting could provide the main impetus for the US dollar (USD) this week, as investors search for additional clues about the prospect of an interest rate increase in the months ahead.
Australian dollar (AUD)
Australia’s latest employment report is due later this week, with the Australian dollar (AUD) potentially coming under pressure if weaker hiring growth reduces expectations for further tightening from the Reserve Bank of Australia (RBA).
South African rand (ZAR)
South Africa will release its latest consumer price index this week, with economists expecting inflation to have accelerated again in July. A further increase in price growth could support the South African rand (ZAR) by increasing pressure on the South African Reserve Bank (SARB) to raise rates.
Canadian dollar (CAD)
Canada’s latest CPI figures are also due this week, with the Canadian dollar (CAD) potentially starting the session strongly if firmer inflation encourages expectations of Bank of Canada (BoC) tightening later this year.
New Zealand dollar (NZD)
The New Zealand dollar (NZD) could build on its recent recovery this week if the latest figures show domestic producer price growth accelerated during the second quarter.
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