The new trading week starts with a very light economic calendar and a bank holiday in the US, due to the Labor Day. In the absence of major economic news and with a bank holiday, the forex market is expected to have a quiet trading session today. But later on during the week there are very important economic data and monetary decisions related to the Euro, the Australian Dollar and the Canadian Dollar, which can all have as a result significant price action and volatility or new trends for these currencies.
These are the 2 important economic events for today, which can offer currency pairs fluctuations:
UK Markit/CIPS Construction PMI (August)
Time: 08:30 GMT
This monthly economic reading measures the total activity in the construction sector, with any reading above the 50.0 level showing expansion and being positive for the UK economy and the British Pound. The forecast is for a reading of 52.0, marginally higher than the previous reading of 51.9.
Australia AiG Performance of Service Index (August)
Time: 23:30 GMT
A monthly economic figure about the Australian services sector and its state of economic and business activity, with a reading above the 50.0 indicating growth, and with higher or rising readings being supportive for the Australian Dollar and the economy of Australia.
