Manufacturing PMI data across Europe and China, was softer than expected, while expectations remain higher as global trade improves. The Bank of England and the Sweden’s Riksbank, both announce their latest interest rate decisions this week and no surprises are expected. The US Dollar remain firm, with the EUR trading 1.1530, while the GBP slipped below 1.3150.
The RBA will announce their latest interest rate decision, on the first Tuesday in November, more famous for the ‘race that stops the nation’. The RBA are expected to leave interest rates on holds, as the recent spike in inflation, curbs the banks need to stimulate the economy through monetary policy. The AUD has drifted back up to 0.6540, ahead of the Central Bank policy decision, while the NZD briefly slipped below 0.5700.
