Market insights

UK House Prices Rise - MI071223

At breakfast this morning the Halifax announced a surprised monthly gain of 0.5% in UK house prices.

This has bolstered a small gain in GBP rates this morning which is welcome news versus the Dollar where Sterling has been steadily losing ground.

GBP/EUR could be bouncy today. The main headline is the Eurozone GDP numbers out this morning. Analysts are expecting a quarterly contraction of -0.1%.

After that it's the later part of the evening that proves interesting. Japan is set to report its GDP data where the expectation is for quarterly contraction of -0.5%. This will be closely watched as the Japanese Yen was off to the races in the early hours of this morning after their leading economic index numbers out earlier this morning.

Then it's German inflation numbers, which, again, will be watched keenly. The anticipated reading is annualised growth of 3.2%.

Business news centres on the ongoing industrial action on the railways along with a surprise increase in the use of cash in the UK. The latter has been put down to families budgeting easier by using cash over cards.

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Economic calendar

EUR: 10:00 GDP Number

JPN: 23:50 GDP Number

GER: Friday 07:00 Inflation Data

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

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