Pound (GBP)
The UK’s second-quarter GDP figures represent the main domestic release for GBP investors this week. However, unless the final growth estimate is revised significantly, the data may have little influence on the pound (GBP), leaving Sterling largely at the mercy of broader market movements.
Euro (EUR)
The euro (EUR) is likely to take its cues from the latest Eurozone inflation figures this week. A further pickup in September’s preliminary CPI reading could lend support to the single currency by reinforcing expectations that the European Central Bank (ECB) will raise interest rates again next month.
US dollar (USD)
US employment data will take centre stage for the US dollar (USD) this week, with the latest payroll figures likely to shape expectations for Federal Reserve policy. Continued strength in job creation could reinforce bets on an October rate hike and provide a significant boost to the ‘greenback’.
Australian dollar (AUD)
AUD investors will focus on the Reserve Bank of Australia’s (RBA) latest interest rate decision this week. Although markets have largely priced in another 25bps increase, a hawkish policy outlook from the bank could give the Australian dollar (AUD) further momentum.
South African rand (ZAR)
With little notable domestic data scheduled, the South African rand (ZAR) is likely to remain sensitive to broader shifts in market sentiment this week. Continued gains in oil prices could weigh on risk appetite and leave the rand vulnerable to further weakness.
Canadian dollar (CAD)
Canada’s latest GDP figures will provide a key test for the Canadian dollar (CAD) this week. If August’s preliminary estimate confirms that economic growth recovered as expected, the data could provide some support for the ‘loonie’.
New Zealand dollar (NZD)
The New Zealand dollar (NZD) could remain vulnerable to cautious market conditions this week, although stronger domestic business confidence in September may help to limit any downside for the ‘kiwi’.
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