GBP/USD and GBP/EUR rates have got into a sideways channel with little to show for a break out either direction for now. With little news out today this may well continue into tomorrow unless there's a global news story out.
Anyone tracking GBP/AUD may well want to reflect on the early hours of tomorrow when the Australian GDP numbers come out. Other than that there's US goods trade balance out just after lunch and Chinese import and export numbers, again, early hours of tomorrow.
Business headlines continue to focus on the cost of living and rail strikes. With respect to the cost of living the National Farmers Union (NFU) has put out a stark warning out regarding certain staples that could be affected soon. Due to the cost of fertilizer and energy they believe the UK will suffer from shortages in foods such as tomatoes and other crops.
Today’s Economic Calendar
US: 13:30 Good Trade Balance
AUS: Wednesday 00:30 GDP Data
CHN: 03:00 Imports and Exports
As ever we look forward to keeping you in the loop and look out for our next update.
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