UK Dec lending data now out 30 Jan
- 64.7 prev revised down from 65.1k
- net lending secured on dwellings GBP 3.7bln vs 3.4bln exp vs 3.7bln prev revised up from 3.5bln
- net consumer credit GBP 1.5bln vs 1.4bln exp vs 1.5bln prev
- M4 money supply mm -0.6% vs 0.2% prev rev up from 0.15
- yy 3.7% vs 3.8% prev rev up from 3.7%
- M4 ex IOFCs 3M annualised 4.7% vs 3.6% prev rev up from 3.4%
Softer mortgage approvals illustrating slow down in housing market. Equity release on properties rising and that's not a good sign if borrowing to pay bills elsewhere which seems likely in current environment rather than invest elsewhere.
Not going to be a price changer in the current environment as GBPUSD holds around 1.4037 after the rapid turnaround from 1.3980. EURGBP still 0.8826 as EURUSD also rallies to post 1.2395. Yen pairs higher and still driving.
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