Property Market moving up

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The Only Way is Up for UK Housing Market

The Pound continues its relentless climb after upbeat Manufacturing date released today. This on the back of data revealing that the Growth of the UK housing market growth shows little signs of relenting.

With house prices rising to multi-year highs, it remains to be seen if the Bank of England takes further measures to rein-in the housing market in its monetary policy meeting this week.

The Euro is trading lower against the US Dollar in today’s trading session, due to escalating tensions in Ukraine which has raised the prospects of a war in Eastern Europe and increased flows towards the safe haven assets including the US Dollar.

The Euro moved higher against its peers on Friday following the release of surprisingly upbeat Euro zone consumer price inflation data which showed that inflationary pressures in the currency bloc are picking-up. This has eased fears that the ECB may be forced to introduce negative deposit rates keeping funds flowing towards the Euro for now.

Key Economic Events

UK Hometrack Housing Survey
UK Net Lending to Individuals
UK Net Consumer Credit
UK Markit Manufacturing PMI
UK Mortgage Approvals
US Personal Income
US Personal Spending
US Construction Spending
US ISM Manufacturing PMI
Eurozone Markit Manufacturing PMI

Interbank Exchange Rates (09:00)
GBP 1.2133 1.6720 12.975 1.8721
EUR 0.8242 1.3780 10.693 1.5431
USD 0.5982 0.7257 7.7601 1.1198

Support Levels
GBP/USD Support 1.6689 1.6634 1.6595
GBP/EUR Support 1.2075 1.2025 1.1958
EUR/USD Support 1.3721 1.3641 1.3589

Resistance Levels
GBP/USD Resistance 1.6783 1.6822 1.6877
GBP/EUR Resistance 1.2192 1.2259 1.2309
EUR/USD Resistance 1.3853 1.3905 1.3985

Company Details

Property Market moving up

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