Yesterday saw Currency movements restricted to small ranges. This was unsurprising given the shortage of data releases and central bank news.
Looking ahead to today, The August CBI industrial survey will provide a timely update on the state of the factory sector. While it attracts less attention than the PMI survey, which will be announced tomorrow. Orders did fall again last month, but the dip was the smallest since December.
Markets will be more focused on Fed Chair Powell’s Jackson Hole speech on Friday, where they will be expecting for some guidance on where US interest rates will go next.
The macro schedule is once again light. One of the few noteworthy releases is the July existing home sales statistics in the United States.
However, the dollar is unlikely to react strongly to the housing market update. As a result, the major currency pairs may remain restricted inside narrow ranges today.