Pound (GBP)
After last week’s barrage of UK economic data, the calendar is considerably quieter this week, which, alongside Parliament’s ongoing recess, could leave the pound (GBP) primarily driven by wider currency trends.
Euro (EUR)
EUR investors will be watching the minutes from the European Central Bank’s (ECB) latest policy meeting this week, with the euro (EUR) potentially strengthening if they indicate policymakers are prepared to support an interest rate hike next month.
US dollar (USD)
Federal Reserve Chair Kevin Warsh’s address at the Fed’s annual Jackson Hole symposium and the Bureau of Labor Statistics’ yearly revision to non-farm payrolls will provide crucial tests for the US dollar (USD) this week, with disappointing signals potentially sending the ‘greenback’ sharply lower.
Australian dollar (AUD)
Australia will release its monthly consumer price index on Wednesday, with the Australian dollar (AUD) vulnerable to losses if easing inflationary pressures further reduce expectations for additional monetary tightening from the Reserve Bank of Australia (RBA).
South African rand (ZAR)
The South African rand (ZAR) could struggle to extend its recent gains this week as market risk appetite faces pressure from renewed trade uncertainty and concerns surrounding Washington’s latest economic sanctions against Iran.
Canadian dollar (CAD)
The Canadian dollar (CAD) could face a challenging week, as the collapse of US-Canadian trade negotiations and the prospect of additional tariffs are likely to weigh on CAD demand throughout the session.
New Zealand dollar (NZD)
With no significant domestic releases scheduled, movement in the New Zealand dollar (NZD) is likely to be dictated by broader risk sentiment this week, with cautious trading conditions potentially dragging on the ‘kiwi’.
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