Pound (GBP)
A scheduled speech from Bank of England (BoE) Governor Andrew Bailey is likely to command the attention of GBP investors this week, with the pound (GBP) potentially weakening if Bailey retains a cautious stance on further monetary tightening this year.
Euro (EUR)
The euro (EUR) could receive an early lift this week from the publication of the Eurozone’s consumer price index. August’s preliminary figures are expected to show inflation climbing back above 3%, potentially strengthening bets the European Central Bank (ECB) will raise interest rates this month.
US dollar (USD)
The latest US non-farm payroll report will undoubtedly represent the main catalyst for movement in the US dollar (USD) this week. If employment growth again falls short of expectations in August, it could weaken renewed Federal Reserve rate hike bets and weigh on the ‘greenback’.
Australian dollar (AUD)
Australia’s latest GDP figures could provide support for the Australian dollar (AUD) this week, with consensus forecasts suggesting the economy maintained a steady rate of expansion during the second quarter.
South African rand (ZAR)
With no notable domestic releases scheduled, movement in the South African rand (ZAR) will likely be dictated by wider market risk dynamics this week, with increased caution surrounding Fed rate hike expectations potentially curbing demand for the emerging-market currency.
Canadian dollar (CAD)
Persistent US-Canada trade tensions are likely to weigh on the Canadian dollar (CAD) this week, while any losses could be exacerbated by Canada’s latest employment figures at the end of the week if August’s data reveals a slowdown in job creation.
New Zealand dollar (NZD)
An anticipated rate hike from the Reserve Bank of New Zealand (RBNZ) could reignite demand for the New Zealand dollar (NZD) this week, provided the bank’s forward guidance retains a hawkish tone.
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