Market insights

UK house prices drop - Market Insight 21st August 2023

Rightmove released its housing price index earlier this morning showing an annual contraction of -0.1% in prices. Month on month prices dropped by -1.9%.

In other news the Peoples Bank of China (PBoC) dropped it's interest rate by 10 points (0.1%) to 3.45% as China struggles to recover from Covid and the weight of a housing crisis. For the latter the Chinese property company Evergrande filed for bankruptcy in the US.

There isn't any major news scheduled for today until breakfast time tomorrow when the UK releases its public sector net borrowing figure for July.

Business news is relatively light today also with not much happening to move the markets. GBP/EUR and GBP/USD remain in a sideways pattern for now.

Get your free quote now

Economic calendar

UK: Tuesday 07:00 Public Sector Net Borrowing

As ever we look forward to looking after you and please keep an eye out for our next Insight.

Our friendly currency experts are always on hand to help you. We offer a first class service backed up by an easily accessible online platform to ensure you always have visibility of your transactions.

Our business ethos is based on bank beating and fantastic customer service. Click on the link above for a free, no obligation quote, and see for yourself how Regency FX can save you money.

Open a free account

It is free and easy