Nationwide Aug house price index much stronger than expected

Source: www.forexlive.com

UK Nationwide house price index for August has come in at +1.6% m/m, -2.7% y/y, demonstrably stronger than the median forecasts of +0.5%, -3.9% respectively. Cable had moved from 1.6215 to 1.6235 just ahead of the release (did someone know what they were going to be?), and is presently little changed at 1.6230. Little surprising the pairing didn’t get any lift from numbers, but that’s the wild and whacky world of forex for ya. Maybe it just reflects that cable bulls are a little thin on the ground right now. Not a particularly good omen.


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