{"id":411,"date":"2010-12-23T09:46:27","date_gmt":"2010-12-23T09:46:27","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=411"},"modified":"2010-12-23T09:47:35","modified_gmt":"2010-12-23T09:47:35","slug":"rational-fx-bba-mortgage-approvals-expected-at-a-figure-of-31-3k-better-than-09-23122010","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/rational-fx-bba-mortgage-approvals-expected-at-a-figure-of-31-3k-better-than-09-23122010\/","title":{"rendered":"Rational FX: BBA Mortgage Approvals figures expected to beat 2009&#8217;s [23\/12\/2010]"},"content":{"rendered":"<p><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\"> <\/span><\/span><\/p>\n<p><strong>Yesterday\u2019s Market Movers<\/strong><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>In the UK yesterday we had the Bank of England Minutes which stayed with a three way split. There was also a view on inflation for 2011 which is now expected to rise to 4%, this may encourage the MPC to increase interest rates as early as next spring.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>Also in the UK yesterday there were Current account figure. This figure is statistics of interest payments coming in and out of the UK including goods and services. The figure came out worse than predicted meaning there is over spending in the economy and shows a negative effect on the pound.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>As previously stated UK GDP (Q3) and (YoY) is a broad measure of Economic activity and we saw a slight movement in Sterling when the figure was released.\u00a0 In previous figures the GDP figure had grown. The figure came out 0.1% below expectations showing the UK has not done well enough.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>US GDP was expecting a positive prediction at 2.8% but slumped a fraction to 2.6% showing slight weakness in the economy. This didn\u2019t move the markets by margins but hit cable by about 20 pips stabilizing at 1.5420.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>US Existing home sales were expected to come in better than previous (YoY) and even though it did we saw it increase marginally.\u00a0 This gave strength to the dollar sending GBP\/USD to 1.5400\u2019s and later bearing down to 1.5380\u2019s. The spike in dollar was due to the increase of the house price index to 0.8% showing a stronger housing market.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\"> <\/span><\/span><\/p>\n<p><strong>Today\u2019s market movers<\/strong><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>Today in the UK we will see the BBA Mortgage Approvals which are expected to come out better at a figure of 31.3K from a previous figure of 30.7K. If the figure comes out as predicted or better than previous it will prove positive for the pound showing that more home loans are being approved and it is positive for the economy.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>In the US data surrounding the Durable Goods Orders with an expected figure better than previous showing progression for the US economy and the USD. This is basically showing how much manufactures are spending on goods with longer shelf life.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>US jobless claims are also out today showing data about how many people are unemployed still throughout the country. The figures are due to remain the same as previous at 420K. Naturally if a better figure comes out you shall see dollar weakness.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>Also in the US we have Reuters\/Michigan Consumer Confidence statement released. The figure is predicted better than expected at 74.5 from a previous 71.6, if a higher reading comes out as predicted it could prove Dollar positive and a lower figure doing the opposite.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\">\n<p>The final bit of data out today is the New Home Sales in the US which are figures showing how much people are spending on the property ladder and renovations. The data is predicted to come out better and if so will see strength for the Dollar as more money is being spent in the economy. Naturally a lower figure will show weakness for the Dollar as people wouldn\u2019t be spending more therefore not pumping anything into that part of the economy.<\/p>\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #666666; font-family: Arial;\"><span style=\"color: #666666;\"> <\/span><\/span><\/p>\n<p><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/p>\n<p>\u00a0<\/p>\n<div>\n<table style=\"border-collapse: collapse;\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\" width=\"40%\" bordercolor=\"#000000\">\n<tbody>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> <\/span><span style=\"color: #666666; font-family: Arial;\">Currencies<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> High<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> Low<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> Support<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> Resistance<\/span><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> GBP\/EUR<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\">1.1808<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.1727\u00a0<br \/><\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\">1.1720<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\">1.1850<\/span><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> GBP\/USD<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.5493<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.5374<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.5350<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\">1.5500<\/span><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> EUR\/USD<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.3181<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.3088<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\"> 1.3050<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #666666; font-family: Arial;\">1.3180<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div><span style=\"color: #666666; font-family: Arial;\"> <\/span><\/div>\n<div><span style=\"color: #666666; font-family: Arial;\"><span style=\"font-family: Arial;\">We wish you a very nice day.<\/p>\n<div><a title=\"Request a FREE no obligation quote from RationalFX\" href=\"http:\/\/www.rationalfx.com\/\">The RationalFX Team<\/a><\/div>\n<p><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday\u2019s Market Movers In the UK yesterday we had the Bank of England Minutes which stayed with a three way split. There was also a view on inflation for 2011 which is now expected to rise to 4%, this may encourage the MPC to increase interest rates as early as next spring. Also in the UK yesterday there were Current [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,27,24],"tags":[52],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/411"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=411"}],"version-history":[{"count":5,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/411\/revisions"}],"predecessor-version":[{"id":416,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/411\/revisions\/416"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}