Cable drifts slightly lower in early trade

Cable has drifted slightly lower in early trade. We’re presently at 1.6535.

Overnight saw the release of the Gfk consumer confidence survey for October, which came in at -13 from previous -16, very slightly better than median forecast of -14. Personally I’m a UK consumer and I’m sure not confident!!

Up in about 15 mins (07:00 GMT) will be Nationwide house prices for October, expected +0.6% m/m, +1.8% y/y.