Currency pair of the week

The GBP/USD is in focus ahead of this week’s key events: FOMC and BoE rate decisions. We also have UK CPI and retail sales, as well as global PMI figures to look forward to this week. The BoE is likely to deliver a final 25 bps hike, while FOMC is seen holding policy unchanged. The GBP/USD could be heading to low 1.20s in this busy week.

The economic calendar is full of key data from the US this week, which should make for a volatile week for all the major pairs. But the fact we also have an interest rate decision from the ECB to look forward to means the EUR/USD will be among the more active pairs, making it our currency pair of the week.

Our bullish USD/CAD outlook will be tested this week, with key events from Canada to look forward to, as well as a couple of potentially market-moving data from the US. The USD/CAD was understandably trading within small ranges on Monday with both North American nations on holiday, but the bullish trend remained in place.

The GBP/USD is our featured currency pair this week, owing to the release of some important macro data from both sides of the pond. The Bank of England remains firmly focused on services inflation and wage growth. We will have data on both fronts in the week ahead, which should impact the GBP/USD outlook in the direction of the surprise.

The GBP/USD is our featured currency pair this week. Though it has started the new week slightly on the backfoot, there was some bullish price action observed towards the latter parts of last week, giving the bulls some hope that it may be about to trend higher again. In truth, a lot will now depend on the direction of the US dollar, which will be influenced CPI data.

The GBP/USD was little changed for much of Monday’s European trade, holding in the positive territory above 1.2850 area. But we are expecting volatility to increase as we go deeper into the week. As well as the Bank of England’s rate decision, we have some top-tier US data to look forward to in the next several days, making the GBP/USD the currency pair of the week.

The EUR/USD started the new week on the backfoot, falling in reaction to the latest disappointment from the PMI surveys in the Eurozone. But the downside was limited as investors looked forward to key interest rate decisions from the Fed and ECB later in the week. Despite its recent weakness, we continue to maintain a bullish EUR/USD outlook and wouldn’t rule out a move towards 1.15 in the coming weeks.

For now, the path of least resistance is to the upside for the cable and other pound crosses. But UK CPI has the potential to impact the GBP/USD outlook.

With this week’s economic data, including jobs data from both the US and Canada, USD/CAD has potential to be volatile.

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Traders may need to be patient until the BOE meeting Thursday

With both the FOMC and BOJ monetary policy meetings this week, USD/JPY has the potential to be a big mover

With the reopening of the UK underway and the reopening of the US in full swing, the British Pound may outperform the US Dollar.

The RBNZ meeting and the Australian Employment are both this week!

Both the RBA and the US Federal Reserve are turning their attention almost entirely towards maximizing employment