Headline beats expections

  • Change in the selling price of homes with mortgages backed by Nationwide
  • This is the UK's second earliest report on housing inflation
  • It's a leading indicator of the housing industry's health because rising house prices attract investors and spur industry activity
  • Decent beat of expectations
  • Highest reading since February

While we're here, I'll take it as an opportunity to take an initial look at GBP/USD as we head into FOMC later and then the BoE tomorrow:

Higher time frame:

  • Above daily support zone
  • No higher low or high printed to confirm

Intraday:

  • The higher low has come on the intraday as it retested previous short term resistance turned support
  • But no momentum in the move and it's all but given it back now