Pound (GBP)
A busy UK economic calendar is set to drive movement in the pound (GBP) this week, with a particular focus on September’s consumer price index. A stronger-than-expected inflation reading could stoke expectations Bank of England (BoE) rate hikes, potentially providing Sterling with a boost.
Euro (EUR)
Political instability in France could weigh heavily on the euro (EUR) this week, as the unrest seen over the weekend threatens to intensify pressure on the government and further undermine confidence amid the country’s ongoing bond market turmoil.
US dollar (USD)
With few significant US economic releases on the calendar, broader market sentiment is likely to dictate the US dollar’s (USD) performance this week. Should investors remain cautious, demand for safe-haven assets could push USD exchange rates to fresh multi-month highs.
Australian dollar (AUD)
A lack of meaningful domestic economic releases could leave the Australian dollar (AUD) struggling to attract support this week, particularly if a deterioration in wider market sentiment dampens demand for risk-sensitive currencies.
South African rand (ZAR)
South African Finance Minister Enoch Godongwana is due to present his latest medium-term budget policy statement later this week. The South African rand (ZAR) could strengthen if the announcement points to further improvements in the country’s fiscal position.
Canadian dollar (CAD)
Strong oil prices could provide a source of support for the Canadian dollar (CAD) this week. However, any advance may be limited later in the week if Canada’s latest retail sales figures indicate that consumer spending lost momentum last month.
New Zealand dollar (NZD)
New Zealand’s latest quarterly inflation report will be a key focus for NZD investors this week. If the data confirms that price pressures eased during the third quarter, expectations for further Reserve Bank of New Zealand (RBNZ) interest rate hikes could weaken, potentially dragging on the New Zealand dollar (NZD).
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