Latest data released by UK Finance on housing approval - 26 February 2018
- Prior revised to 36.09k
Not a major data point, as this measures only a proportion of the demand in the UK housing market - those which are approved by High Street Banks in the UK.
UK Finance is also reporting that January consumer credit came in at -0.2% y/y, the first fall since the new reading began in April 2017. Meanwhile, net credit card lending was +£0.004 bn in January, the weakest increase since April 2016 - a similar backdrop for mortgage lending as well.
Doesn't paint a pretty picture, which shows that consumers are still feeling the pinch - which in turn is affecting demand for credit. But as mentioned, these are just data on approvals by High Street Banks though they do provide a general indication of things.
GBP/USD hovering near the highs still at 1.4048 now. EUR/GBP is lower as the euro gains some traction on the day, now at 0.8783. GBP/JPY sitting at 149.77 on the day.
