Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Sterling Boosted On Strength Of Rightmove "data"

Recommended Posts

http://uk.news.yahoo.com/20022006/323/poun...ce-surplus.html

LONDON (AFP) - Sterling was firmer against the dollar following stronger-than-expected public finances data
and a string of mortgage lending data suggesting that the British housing market remains very buoyant.
Though they are generally seen as second-tier data, analysts said that the overall figures lessen the chances that the Bank of England will cut interest rates any time soon and helped the pound reach 1.7450 against the US dollar at 1625 GMT, up from 1.7427 at 1300 GMT.

Evidence that HPI has been keeping sterling afloat. What happens when the truth comes out? What is amazing is that the currency dealers have bought it.

Edited by Realistbear

Share this post


Link to post
Share on other sites

Yep, it's quite alarming.

Consider the housing crash of the early 70's, that was followed by a nasty recession, the currency tanked and the country had to go to the IMF for a loan to bail them out, banana republic style.

Similar thing happened after the 90's crash, unemployment shot up, Sterling tanked and it all went wrong again.

It's easy to see why Gordon Brown considers the housing market to be the achilles heel of this economy.

Share this post


Link to post
Share on other sites
Guest wrongmove

Evidence that HPI has been keeping sterling afloat. What happens when the truth comes out? What is amazing is that the currency dealers have bought it.

It certainly shows how (over)important house prices have become to the UK economy.

I expect the markets were reacting to strong lending figures from BBA, CML and BSA, all released today, rather than the Rightmove Index though.

Share this post


Link to post
Share on other sites

http://uk.news.yahoo.com/20022006/323/poun...ce-surplus.html

LONDON (AFP) - Sterling was firmer against the dollar following stronger-than-expected public finances data
and a string of mortgage lending data suggesting that the British housing market remains very buoyant.
Though they are generally seen as second-tier data, analysts said that the overall figures lessen the chances that the Bank of England will cut interest rates any time soon and helped the pound reach 1.7450 against the US dollar at 1625 GMT, up from 1.7427 at 1300 GMT.

Evidence that HPI has been keeping sterling afloat. What happens when the truth comes out? What is amazing is that the currency dealers have bought it.

I have been watching the www.betfair.com interest rate market for some months and it still seems to be titled heavily in favour of a cut aginst the possibility of a rise. It sucks I know but this is the fact of opinion at the mommnet of people prepared to put thier money where thier mouth is . If rates do go south it could get very messy for my hpc comrades.....keep the faith

Share this post


Link to post
Share on other sites

I have been watching the www.betfair.com interest rate market for some months and it still seems to be titled heavily in favour of a cut aginst the possibility of a rise. It sucks I know but this is the fact of opinion at the mommnet of people prepared to put thier money where thier mouth is . If rates do go south it could get very messy for my hpc comrades.....keep the faith

Whatever happens with IR in the short term, HPC is inevitable.

Share this post


Link to post
Share on other sites

I wouldn't pay much attention to the article. GBP starting up against the USD today and fell back, rose and now it's back again. Bank holiday in the US and with FOMC & BOE minutes, CPI and GDP data out this week I think it's range bound for today. Hopefully the week will hot up some more.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.