Market insights

Train chaos in the UK unsettles markets

With little scheduled news today the main focus for the markets is business news stories.

There's manufacturing data from the States later and the Australian rate decision in the early hours of tomorrow so the Australian Dollar could be bouncy. Analysts are expecting the Reserve Bank of Australia to hike rates by 0.25% to 4.35%.

Other than that it's business news. In the UK it centres around rail disruption due to cancellation of overtime hours for rail drivers along with a warning of higher energy prices at the end of the year. No real effect on GBP rates as yet.

Overseas the main focus is the riots and protests in France. At the moment the unrest looks to be priced into the GBP/EUR rate which is still tracking sideways.

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Economic calendar

US: 15:00 Manufacturing Data

AUS: Tuesday 05:30 RBA rate decision

As ever we look forward to keeping you in the loop and look out for our next update.

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