Tuesday underway with RBA (Reserve Bank of Australia) holding their interest rate decision. No surprise on the decision itself with RBA holding rates at bay of 3.6%, which has been its level since August this year. RBA members did not show too much of a tendency moving forward and stated that private demand is recovering and while labour markets appear a little tight.
For today’s session there is mainly jobs data from the US in the afternoon session. First out ADP national employment change, we did notice a pullback last week with a decrease of 13.5k jobs. A little later in the afternoon we also have JOLTs job openings, which is a measurement of job positions that are open and occupied by an employer of the last business day of the month. Indications is that vacant job openings so fall slightly from its previous month of 7.227m to 7.2m. This then leads up the main event of this week for tomorrow, the Federal Reserve’s interest rate decision. Forecasting a rate cut down to 3.75% from 4%. Ahead of tomorrow’s decision, one aspect that could implement the Federal Reserve members decision is that because of the government shutdown was followed by closed doors from the Bureau of Labor Statistics. With less data to analyse for the FED.
GBP/EUR 1.1441 GBP/USD 1.3335 GBP/AED 4.8999
GBP/AUD 2.0075 GBP/CHF 1.0743 GBP/CAD 1.8457
GBP/NZD 2.3038 EUR/USD 1.1640 GBP/ZAR 22.7207