Details on July mortgage approvals and new credit issued to consumers below as well
- July M4 money supply y/y 4.4% vs 5.3% prior
- July mortgage approvals 68.7k vs 65.5k expected
- July net lending to individuals 3.6b vs 3.8b expected
The data are mostly in line with what is expected. Increase is money supply can be construed as a little positive but if you look at it year-on-year, it's not very suggestive of additional spending/investment - but of course this is a rough proxy.
New mortgages in the UK is still doing decently as the chart shows, so there isn't much to worry about there even with Brexit talks looming.
GBPUSD is now down to 1.2913 after failing to break above 1.2930 in the last hour.
