Market insights

UK House Prices Rise - MI050124

Breakfast time this morning saw the Halifax report an unexpected rise in UK house prices.

The monthly hike was 1.1% whilst the annualised growth was 1.7%. This will be welcome news to what has been a slightly beleaguered sector in 2023.

Looking ahead the highlight is Eurozone inflation. Germany reported a 0.1% lower than expected result, so this will be keenly watched.

Annualised growth of 3% is expected, so it could be a rocky day for the Euro. The Pound is already in short term ascendency after the German data out yesterday.

On the other side of the pond the news is equally as big. Canadian unemployment numbers come out at the same time as the US non farm payrolls. Expect 170,000 jobs to have been added in the latter number.

Then there's American services data mid afternoon so it could be a volatile end to the week in the FX markets.

Business news continues the UK housing theme with lenders reported to be reducing fixed rates as the market starts getting competitive.

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Economic calendar

EUR: 10:00 Inflation Numbers

US: 13:30 Non Farm Payrolls

CAN: 13:30 Unemployment Rate

US: 15:00 Services Data

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