61.3k prev
- M4 money supply mm +0.4% vs +0.3% prev
- yy 0.0% vs -0.6% prev
- net consumer credit GBP+1.2bln vs +1.0bln exp vs +1.3bln prev rev up from +1.2bln
- net lending secured on dwellings GBP +1.7bln vs +1.9bln exp vs +2.0bln prev rev up from +1.8bln
Double whammy with construction PMI beating expectations finally sees cable chewing through good offers/res into 1.5230 after holding 1.5180-85 earlier
Good news for the housing market at least but my concerns remain over the lending secured on property.. Not the basis for a sustainable recovery imho
Not that the intra day market is bothered by that.. GBPUSD 1.5242 as EURGBP gives up earlier gains having failed into strong offers at 0.7230
All the data detail you need from the BOE here
