The week starts much as it finished last week. GBP/EUR remains in a sideways track. The Pound has gained some strength versus the Dollar however.
With little scheduled data out today it's unlikely to change. There's the institute of supply management numbers out in the US but little else until the Reserve Bank of Australia's interest rate decision in the early hours of tomorrow where analysts are expecting a 25 basis point hike to 3.85%.
Business news is dominated by a surprise jump in oil prices. At the start of the Ukraine conflict prices soared, but have since steadied. However with a reported cut in oil production from the middle East the price has bounced, but is still off the 12 month highs.
Today’s Economic Calendar
US: 15:00 ISM Manufacturing PMI
AUS: Tuesday 05:30 RBA Interest Rate Decision
As ever we look forward to keeping you in the loop and look out for our next update.
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