The British pound slumped on Monday after renewed concerns on Brexit. The Pound sterling fell as the UK’s manufacturing PMI fell to a 25-month low. Economic data from the U.S. was sparse with the U.S. and Canadian markets closed on account of the Labor Day holiday.
The RBA held its monetary policy meeting earlier today. Interest rates were left changed as widely expected. Later in the morning, the RBA Governor Lowe is expected to speak.
The European trading session is relatively quiet today. The UK will see the inflation report hearings scheduled while Switzerland will be releasing its monthly inflation figures.
The NY trading session will see the ISM manufacturing PMI report coming out. Median estimates forecast a decline in the index to 57.6 from 58.1 in the previous month. The construction spending data is expected to rise 0.5% on the month following a 1.1% decline previously.
