A quiet start to the week with no economic data due for the UK and EU.
In the US we have the NAHB housing market index. Sentiment is likely to have deteriorated in September as higher interest rates continue to bite.
Pound Sterling experienced a significant selloff against the euro at the end of last week and now faces another pivotal week with inflation figures preceding what could be a disruptive Bank of England interest rate decision.
The pound is likely to remain under significant pressure this week ahead of Wednesdays inflation data and Thursdays Bank of England policy announcement.
It is expected that the Bank of England will raise interest rates to 5.5 percent.
Last week the ECB raised its interest rate and afterwards ECB President ‘Lagarde’ hinted that it may be the last in the current cycle.
The US Dollar continues to strengthen against its peers and is now sitting at a 4-month high against the pound.