UK ODPM house prices data for the year to November rose 2.5 pct after a 1.8 pct increase year-on-year to October and was slightly below the market consensus of a 2.6 pct annual rise.
UK PPI in unadjusted terms rose to a record 17.2 pct for the year to December from 13.6 pct year-on-year to November, with fuel prices rising 56.3 pct during the year the key driver for the increase. ‘The data indicate that firms continue to struggle to pass higher costs through to consumers, with profit margins being squeezed as a result,’ Commonwealth Bank economist Joseph Capurso said in a market note.
Today’s important data will be the Empire manufacturing survey at 13:30 and US Industrial Production at 14:15.
GBP EUR – Support 1.4560 then 1.4520
Resistance 1.4605 then 1.4685
GBP USD – Support 1.7638 then 1.7575
Resistance 1.7750 then 1.7809
Related posts:
