- Yesterday was a mixed day for sterling as it gained modestly against the euro but lost some ground to the US dollar.
- The only economic data of note from the UK was in the form of construction PMI which matched expectations at 52.5.
- Elsewhere, US unemployment claims beat expectations at 223K vs 243K and Canadian GDP m/m came in as expected at 0.3%.
- GBP/USD fell by a fifth of a percent on the day after opening at 1.2291 and closing at 1.2265. GBP/EUR opened at 1.1652 and closed at 1.1676.
- Trade balance data from Australia came in worse than expected at 1.30B vs 3.82B but building approvals m/m beat expectations at 1.8% vs -0.1% expected.
- We have services PMI from the UK at 9.30am before ISM non-manufacturing PMI from the US at 3pm.
- We then hear from FOMC members Evans and Powell this afternoon before Fed Chair Yellen speaks at 6pm.