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Should I buy a Euro forward

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In a light day for data releases, domestic attention will be focused on the construction PMI for July. Since picking up sharply during 2013, culminating in a peak of 64.6 in January this year, the index has fallen back a little, possibly on the back of the slowdown in the pace of housing market activity.

Following the weakness in euro area inflation, which slipped to 0.4% year on year in July, the weakest reading since October 2009, today’s regional producer price release for July will attract attention for clues on further disinflationary pressures.

This weeks domestic highlight will be the Thursday MPC policy announcement. Against a backdrop of weak inflation and muted wage pressures markets do not expect changes to either the Bank rate or the size of the APF.

MORNING MARKET RATES:

GBPEUR 1.2529
GBPUSD 1.6825
EURUSD 1.3427
GBPSEK 11.556
GBPAED 6.1805
GBPAUD 1.8053
EURGBP 1.2549
EURAUD 1.4406