100 level once again following the impressive ISM release in the US yesterday. Manufacturing grew at faster than expected levels, recording its sixth consecutive month of growth. Whilst the price rallied, it should be noted that we have a raft of economic data scheduled this week, most pertinently the Interest Rate decisions in the UK and the Eurozone on Thursday, and non farms on Friday.

Market News

1. The RBA kept Aussie interest rates unchanged at 3.75% following three successive rate hikes
2. The OECD said that China needs to run at a deficit and let real exchange rates rise to rebalance their economy
3. Spanish unemployment rose by 3.1% in January to 4mn in January, up 22% in the last twelve months

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