Market insights

Pound In Status Quo

The Pound has started tracking sideways versus most Northern hemisphere major currencies.

That's in stark contrast to the Australian Dollar and the New Zealand Dollar where the Pound has jumped in early morning trading.

The Australian current account balance came in slightly worse than expected which demonstrates that it's sometimes a small trigger only that's needed to cause sharp moves.

Tomorrow mornings Australian GDP number could cause a further stir in AUD and NZD rates. Analysts are expecting quarterly growth of 0.3%.

We're heading into a relatively quiet phase of scheduled news for the rest of the world before a barnstorming end to the week.

Besides US manufacturing data out later, there's not much going on.

Business news returns to the Governments plans for UK energy with 9 offshore wind farm projects auctioned off.

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Economic calendar

US: 15:00 ISM Manufacturing PMI

AUS: Wednesday 02:30 GDP Report

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

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