| Manufacturing PMI |
48.3 |
48.9 |
47.9 |
| Net Lending to Individuals m/m |
1.5B |
0.9B |
0.8B |
| M4 Money Supply m/m |
-0.5% |
1.1% |
0.9% |
| Mortgage Approvals |
52K |
54K |
54K |
| BRC Shop Price Index y/y |
1.4% |
1.1% |
|
| Construction PMI |
47.2 |
47.7 |
46.8 |
| Housing Equity Withdrawal q/q |
-8.6B |
-7.4B |
-7.9B |
| Services PMI |
52.4 |
51.4 |
51.8 |
| Asset Purchase Facility |
375B |
375B |
375B |
| Official Bank Rate |
0.50% |
0.50% |
0.50% |
| Halifax HPI m/m |
0.2% |
0.2% |
0.5% |
A full week passed for the UK economy. BOE has maintained its Asset Purchase Facility at 375B and the Bank Rate at 0.5%. Despite lower Mortgage Approvals than a month before, under estimates Construction PMI and drop in Housing Equity Withdrawals most of the published economic indicators signaled a recovery.
Next week main focus will be on Manufacturing Production, expected to rise 0.4%, and on the Trade Balance estimated at -8.5B.
The pound gained 0.92% in front of the US dollar on Thursday and Friday. It managed to Break 1.5250 resistance and rallied to 1.5374. Here it could have some problems in breaking this area because it has encountered not only a good resistance, but also the rejection line of the uptrend channel. A rejection might target a retest on the current support, while a breakout will open the way for a new rally.
Wrap Up 1-5 April GBPUSD UP 0.92% by Razvan Mihai
