Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

UK Halifax House Price Index Expected To Decline From Last Month

By FxPro Financial Services Ltd (Ed Anderson)ForexApr 09, 2018 02:29AM ET
www.investing.com/analysis/uk-halifax-house-price-index-expected-to-decline-from-last-month-200303945
UK Halifax House Price Index Expected To Decline From Last Month
By FxPro Financial Services Ltd (Ed Anderson)   |  Apr 09, 2018 02:29AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

The UK Halifax House Price Index had recovered last month from a reading of -0.6% in January and February up to 0.4% in March. A weaker number here can be attributed in part to the recent spell of winter weather. The Year over Year figure is still robust and is expected to come in around 2.1%.

Reports over the weekend came in that North Korea is prepared to talk with the US about denuclearization. This led to a move in the yen of about 20 pips but the market soon settled again. There has been little market reaction to the chemical weapons attack in Syria over the weekend but this is a potential risk given that there has been a counter strike overnight. This puts NATO and Russian forces at risk of clashing accidentally.

The ECB’s Coeure made a scheduled speech with the following comments: The EU is a vehicle that brings benefits of economic openness to the greatest number of its citizens. The ECB simulations on tariffs on US imports/exports would have significant adverse effects on the global economy. Falls in equity prices and prevailing uncertainty on retaliatory measures have already contributed to tighter financial conditions. ECB rate guidance will gain in importance and will see a change in the mix of policy instruments. The market can look through the impact of the trade spat. The ECB has seen some uptick in recent inflation numbers.

US Non-Farm Payrolls (Mar) was 103K v an expected 190K, from a prior 313K, which was revised up to 326K. This measures the change in the number of employed people in March. Average Hourly Earnings (MoM) (Mar) was 0.3% v an expected 0.2%, against 0.1% previously. The Unemployment Rate (Mar) was 4.1% v an expected 4.0%, with a prior of 4.1%. This measures the percentage of the total workforce unemployed and actively seeking employment during March. Average Hourly Earnings (YoY) (Mar) was as expected at 2.7%, against 2.6% previously. Average Weekly Hours (Mar) was as expected at 34.5, against a previous 34.5. Labor Force Participation Rate (Mar) was 62.95% v an expected 63.5%, against a prior reading of 63.0%. This data showed a pickup in unemployment and a miss on the number of jobs created. The hourly earnings also picked up, indicating a rise in inflation and putting pressure on the Fed to hike sooner. USD/JPY sold off from 107.411 to a low of 106.983 after these data releases.

Canadian Unemployment Rate (Mar) was as expected, unchanged from the previous reading of 5.8%. Participation Rate (Mar) was also unchanged, as expected, at 65.5%. Net Change in Employment (Mar) was 32.3K v an expected 20.0K, against a prior 15.4K. Unemployment had fallen to 5.7%, the lowest levels in ten years, in November but ticked up slightly in December with the largest drop in the Net Change in Employment data since 2009. USD/CAD sold off from 1.27831 to 1.27323 from this data.

Canadian Ivey Purchasing Managers Index s.a. (Mar) was 59.8 v an expected 60.2, against a previous 59.6. Ivey Purchasing Managers Index (Mar) was 64.7 against 58.4 previously. This data missed the expected number but is still showing robust growth, continuing one of the longest positive runs, with 20 months above 50.0. USD/CAD recovered its earlier losses and moved up from 1.27322 to 1.27839 after this data release.

UK BOE Governor Carney spoke at the International Climate Risk Conference for Supervisors, in Amsterdam. He said that we need to consider the financial impacts of weather-related events. "Intense hurricanes, of the type most likely to cause large insurance losses, seem to be getting more frequent and the chance of two or more intense hurricanes occurring close together may be higher than previously thought.”

Baker Hughes US Oil Rig Counts was released with a headline number of 808 against the previous week’s 798. The number of rigs has moved above 800 after hovering around the level over the last few months. A firm reading above 800 next time could start to put pressure on Crude Oil WTI Futures as supply comes online.

US Fed Chairman Powell spoke about the economic outlook at the Economic Club of Chicago. He made the following comments: Further gradual rate hikes best promote growth and the US economy will require gradual hikes. The risks to the economic outlook are roughly balanced and 12-month inflation readings should move up notably this spring. Inflation could rise to unwelcome levels if the Fed waits too long and the gradual hike approach has reduced risks for the economy. The moderate wage gains show the labor market is not excessively tight.

US Consumer Credit Change (Feb) was $10.60B v an expected $15.00B, against a reading of $13.91B prior, which was revised up to $15.59B. This has been moving lower since reaching a high of $28.00B in January but there are seasonal factors that lead to a drop in the New Year. USD/CAD sold off from 1.27849 to 1.27686 caused by this data release.

EUR/USD is unchanged overnight, trading around 1.22840.

USD/JPY is up 0.08% in early session trading at around 106.976.

GBP/USD is up 0.05% this morning, trading around 1.40979.

USD/CAD is up 0.05% in early trade at around 1.27709.

Gold is unchanged in early morning trading at around $1,333.30.

WTI is up 0.53% this morning, trading around $62.30.

UK Halifax House Price Index Expected To Decline From Last Month
 

Related Articles

Al Brooks
EUR/USD: Possible Wedge Top By Al Brooks - Jun 28, 2022

The EUR/USD is now in a 10-day pullback since the June 14 low close. The pullback is in a tight channel with several bull bars, which lowers the probability of any short. Bears...

UK Halifax House Price Index Expected To Decline From Last Month

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Luqman Firdaus
Luqman Firdaus Dec 07, 2021 12:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
ok GBP 65.000
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email