News | Forex Optimum

News

News

UK annual house price growth slows in March - Nationwide

According to the report from Nationwide Building Society, house prices down 0.2% month-on-month, after taking account of seasonal factors. Economists had expected a 0.4% increase. Annual house price growth slowed to 5.7% in March, from 6.9% in February. Economists had expected a 6.4% increase. 

Nationwide said that policy support is likely to boost the housing market over the next six months, but the longer-term outlook remains highly uncertain.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “Annual house price growth slowed to 5.7% in March, from 6.9% in February. Prices fell by 0.2% month-on-month, after taking account of seasonal effects, following a 0.7% rise in February. Given that the wider economy and the labour market has performed better than expected in recent months, the slowdown in March probably reflects a softening of demand ahead of the original end of the stamp duty holiday before the Chancellor announced the extension in the Budget. Recent signs of economic resilience and the stimulus measures announced in the Budget, including the extension of the furlough scheme and the stamp duty holiday, as well as the introduction of a mortgage guarantee scheme, suggest that housing market activity is likely to remain buoyant over the next six months. The longer-term outlook remains highly uncertain. It may be that the recovery continues to gather momentum and that shifts in housing demand resulting from the pandemic continue to lift the market. However, if the labour market weakens towards the end of the year as policy support is withdrawn, as most analysts expect, then activity is likely to slow nearer the end of 2021, perhaps sharply“.

You may also be interested:

17:58 27.07.2021
Fed is seen sticking to its accommodative stance - UOB
FXStreet reports that Lee Sue Ann, an economist at UOB Group, offers her view on the upcoming FOMC meeting (Wednesday).“The “talk about the talk” about QE tapering and updated dot plot during the June FOMC could set in motion for taper discussion.”“We expect the Fed to keep its current policy stance unchanged in the July FOMC and the Jackson Hole Symposium (26 August) could see the first hint of taper and we expect first taper to be done in December 2021.”
17:36 27.07.2021
EUR/USD: Three reasons to go long here - Citi
eFXdata reports that Citi's FX technicals flag their bias for EUR/USD upside:"i). the divergence between real yields and the USD-index, ii). triple negative momentum divergence on the USD-index ahead of pivotal resistance, and iii). momentum flagging ahead of good supports on EURUSD".
17:18 27.07.2021
U.S. consumer confidence unexpectedly improves in July
The Conference Board announced on Tuesday its U.S. consumer confidence edged up 0.2 points to 129.1 in July from 128.9 in June. This was the highest reading since February 2020.Economists had expected consumer confidence to ease to 123.9. June’s consumer confidence reading was revised up from the originally estimated 127.3.The survey showed that the present situation index rose from 159.6 in June to 160.3 this month. Meanwhile, the expectations index edged down from 108.5 last
Deposit
options
Trading
platform
download
Bonuses VIP