Market insights

House price contraction slows - MI061023

The Halifax released its house price data today with a month on month contraction of -0.4% which was much better than the expected -0.8%. This could be in line view that Bank of England interest rate hikes may be reaching their summit.

This has had little effect on Pound rates this morning so far. GBP/EUR and GBP/USD remain in a sideways pattern for now.

Against the other major currencies such as the Australian Dollar, Canadian Dollar, Swiss Franc etc it's a similar story.

With little scheduled news yesterday there wasn't much announced to push rates.

However it's a different story today. In the US there's the non farm payrolls. Analysts are expecting job growth of 170,000 for September.

If that wasn't enough there's also average earnings data from the States and Canadian unemployment being reported. For the latter the expectation is for the rate to rise to 5.6%.

On Monday there's a meeting of the IMF (before anyone gets too excited that's the International Monetary Fund, not the popular movie franchise). Often the takeaways from these meetings can cause the markets to move.

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Economic calendar

US: 13:30 Non Farm Payrolls

US: 13:30 Average Earnings

CAN: 13:30 Unemployment Rate

GLOBAL: Monday IMF Meeting

US: Monday Columbus Day

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