Today’s data showed that house prices in the UK rose less than expected for March, despite a strong pace of growth in the domestic labour market and a supply constraint in the nation’s real estate segment continuing to help push up home rates. Separately, today BoE chief, Mark Carney indicated that the next move by the central bank would likely be a rise in rates. This is in line with the BoE’s earlier guidance that the low energy prices led weakness in Britain’s inflation is temporary.Across the Atlantic, a weekly survey showed yesterday that the number of first time jobless claimants in the US eased more than expected for the previous week. Going forward, revised US GDP figures for the final quarter of 2014, along with a speech by Janet Yellen, will keep investors interested in the latter half of today’s trading session.
Today’s upbeat UK retail sales print for February has shown that local spending remained supported by lower energy costs. In light of this week’s mixed inflation report, a more than expected upside in today’s retail sales data has strengthened expectations that demand remains buoyed on the domestic front. In line with this week’s robust data, today’s GfK survey in Germany showed that morale among consumers in the nation improved for April and fuelled anticipation that overall activity in the Euro bloc is improving.Across the Atlantic, a report released yesterday revealed that durable goods orders in the US declined unexpectedly for February. Later today, greenback investors will eye the weekly jobless claims survey in the nation for further direction.
Today’s BBA survey has revealed that the number of mortgages approved by UK banks increased more than expected for February. Moving ahead, market participants will eye the retail sales report in the UK scheduled for tomorrow to gauge the health of domestic spending for February, especially after the release of yesterday’s mixed inflation data in Britain.Across the Atlantic, after yesterday’s upbeat inflation data showed that consumer prices rose in line with estimates for February, traders will keep tabs on today’s durable goods orders print in the US for further direction to risk appetite. In Europe, today’s Ifo report showed that morale among firms in Germany improved for March.