RationalFX: UK Housing Market Improving slightly year on year [14/12/2010]

RationalFX: UK Housing Market Improving slightly year on year [14/12/2010]

Yesterday’s Market Movers

  • It was a generally quiet day yesterday with no data released in the Euro zone or the US.
  • In the UK we saw the housing market improve slightly year on year with the release of the Right Move House Price Index, although month on month this came in slightly worse. This had no immediate impact on the market although as a nation of homeowners it is positive to see the housing market increasing slightly.
  • The UK Producer Price Index came in better than expected and whilst this did not cause any movement itself, it is a good indicator for the important retail sales figures which can be know to cause some volatility in the market.

Today’s Market Movers

  • In the UK today the Consumer Price Index is released as a measure of price movements in the retail market, and is expected to remain the same both year on year and month on month.
  • The Retail Price Index in the UK is also expected to come in flat both month on month and year on year in the UK today.
  • In the Euro zone today we see the release of the Industrial Production figures which are expected to come in better than previous, showing potential strength for the Euro.
  • The ZEW survey comes out in Germany today which reflects the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. With regards to both the current situation and the economic sentiment these figures are expected to come in better.
  • It is a busy day in the US today, starting with the Producer Price Index which is expected to come in slightly better than previous, despite an expected drop year on year.
  • The Retail sales in the US are expected to come in worse month on month despite black Friday which is known as the biggest shopping day of the year. This indicates a poor economic climate in the US.
  • The Federal Interest Rate decision is a very important release of data today, although this is expected to remain unchanged.
Currencies High Low Support Resistance
GBP/EUR 1.1981 1.1827 1.1830 1.1975
GBP/USD 1.5887 1.5717 1.5725 1.5880
EUR/USD 1.3397 1.3181 1.3175 1.3400

We wish you a very nice day.

The RationalFX Team

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