Pound (GBP)
Chancellor John Healey will deliver his first Autumn Budget on Wednesday, putting his tax and spending proposals in the spotlight. If markets respond favourably, the pound (GBP) could extend its recent gains.
Euro (EUR)
The euro (EUR) could struggle to gain traction this week as France’s worsening debt situation threatens to complicate the European Central Bank’s (ECB) latest policy decision. Meanwhile, a marked slowdown in Eurozone GDP growth during the third quarter could further undermine confidence in the single currency.
US dollar (USD)
Although the Federal Reserve is expected to leave interest rates unchanged this week, a hawkish tone from policymakers could lend support to the US dollar (USD). Strong third-quarter GDP figures may add to this momentum if they bolster expectations of a rate hike in December.
Australian dollar (AUD)
Australia’s latest consumer price index is likely to be the main driver for the Australian dollar (AUD) this week. Evidence that inflation accelerated during the third quarter could strengthen expectations for further interest rate increases from the Reserve Bank of Australia (RBA).
South African rand (ZAR)
The South African rand (ZAR) is likely to remain sensitive to broader market sentiment this week, with uncertainty surrounding energy prices potentially dampening investor confidence and weighing on the currency.
Canadian dollar (CAD)
The Canadian dollar (CAD) could receive a significant boost this week from persistently high oil prices and expectations that the Bank of Canada (BoC) will raise interest rates when it announces its latest policy decision on Wednesday.
New Zealand dollar (NZD)
An anticipated interest rate increase from the Reserve Bank of New Zealand (RBNZ) could provide fresh momentum for the New Zealand dollar (NZD) this week. A more hawkish outlook from policymakers would offer additional support if it signals that further tightening may follow.
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