Following the Brexit vote Sterling has plummeted in value against all major currencies. The general consensus from top economists was that the pound would continue to fall in value as UK post brexit data filtered through. It seems the British are keeping calm and carrying on as we have seen some very impressive data releases following the EU referendum. Last week saw manufacturing and construction data come in above expectations and Sterling rallied against the Aussie as a result. This was followed by Services PMI this morning coming in at better than expected 52.9 ( anything above 50 indicates growth). The pound continued to gain value and GBP/AUD now sits in the 1.75s.
Data Releases of Consequence this Week
Tomorrow (All times GMT) Australian Interest Rate decision 04.30 – (Change unlikely)
Wednesday 01.30 Australian GDP
Friday 08.30 UK Trade Balance & Consumer Expectations
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