- Yen and US Dollar weaken
- Brexit debate sets direction for Pound
- UK housing prices fall
The Australian and New Zealand Dollars are the strongest performers for today, as the markets
seem to be happy with positive developments in the US-China trade negotiations. The idea of a 60-day extension to the trade truce is certainly welcomed.
Yen and US Dollar weaken
Data from both Japan and Germany showed both countries narrowly avoided technical recession at the end of last year. Nevertheless, such positive sentiment has not been reflected in the markets. For now, the Yen is the weakest currency for today, followed by the US Dollar.
Brexit debate sets direction for Pound
The direction of the Pound will be determined by the Brexit debate
in the House of Commons today. More on that later…
UK housing prices fall
The latest UK house price survey from the Royal Institution of Chartered Surveyors (RICS) balanced dropped to -22 in January, below the expectation of -20. It seems that both buyers and seller activity continues to slip. London and the South East are leading price weakening at a national level. Because of the drop in sales, the lettings market is faring better, however, with demand rising. So, some good news for overseas property buyers
in the UK…
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The data diary for today
Eurozone Gross Domestic Product (GDP) and employment data will be the focus during European trading.
Later in the day, US Retail Sales, Producer Price Indices, Jobless Claims and Business Inventories will be released. Near neighbours, Canada, will also release their manufacturing sales data and New Housing Price Index.
Happy Valentine’s Day
Happy Valentine’s Day to you all! It’s refreshing to see a move away from overt commerciality this year, as lots of people talk about celebrating Valentine’s Day with their friends and wider family, rather than just earmarking the celebrations for a significant other. Gives you that warm and fuzzy feeling. On the other hand, I could be cynical and point out that this could be a very clever ploy to sell more Valentine’s tat… Either way, enjoy your celebrations of love however you want to!