Pound (GBP)
The UK’s preliminary September PMIs will provide a fresh insight into the UK’s economic performance this week. Should September’s figures point to a slowdown across the private sector towards the end of the third quarter, the pound (GBP) could come under renewed pressure.
Euro (EUR)
September’s preliminary PMIs will be closely watched by EUR investors this week, with the latest snapshot of private sector growth potentially lifting the euro (EUR) if it reports activity remained robust through September.
US dollar (USD)
Heightened geopolitical tensions could continue to drive demand for the US dollar (USD) this week as investors seek out safe-haven assets. However, weaker-than-expected US durable goods orders could temper the currency’s gains later in the week.
Australian dollar (AUD)
The Australian dollar (AUD) will be looking to the latest employment figures for fresh support this week. A rebound in job creation could strengthen expectations that the Reserve Bank of Australia (RBA) will raise interest rates again at its next meeting, potentially allowing the ‘Aussie’ to build on its recent gains.
South African rand (ZAR)
The South African Reserve Bank (SARB) is due to announce its latest interest rate decision this week. Although markets are widely anticipating another rate increase, the South African rand (ZAR) could face pressure if the central bank delivers another surprise, following its unexpected move in July.
Canadian dollar (CAD)
The Canadian dollar (CAD) could face renewed headwinds this week, with weaker oil prices and disappointing domestic retail sales data both potentially weighing on the commodity-linked currency.
New Zealand dollar (NZD)
A quiet domestic data calendar leaves the New Zealand dollar (NZD) exposed to shifts in broader market sentiment this week. A sustained move towards risk aversion could therefore see the ‘kiwi’ come under pressure.
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