UK economists are already looking towards the Autumn Statement from the Chancellor, Jeremy Hunt, on Thursday. The expectation is for an almost complete reversal of the last mini budget at the end of September with spending cuts and increases to taxation.
With GBP/EUR rates still relatively volatile and generally in a sideways pattern at the moment this could be a big week for the Pound.
Against the Dollar it's a slightly different story as the Democrats came out slightly ahead during the mid term elections which has caused a weakening of the Greenback. The Pound continues to make steady progress in strength.
Australian Dollar follows the trend of the Euro versus the Pound whilst the Canadian Dollar is matching the performance of the US Dollar for now.
It's mainly Eurozone data out today followed by Japanese GDP data later in the evening. The Pound could be affected at breakfast time tomorrow when the UK releases it's latest employment numbers.
Today’s Economic Calendar
EUR: 10:00 ECB's Fabio Panetta Speech
EUR: 16:15 ECB's Luis De Guindos Speech
JPN: 23:50 GDP Data
UK: Tuesday 07:00 Unemployment Data
As ever we look forward to keeping you in the loop and look out for our next update.
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