Tuesday, January 12, 2010

UK posts better-than-expected trade balance and housing price figures

FXstreet.com (Barcelona) – The UK's economy received some good news as the trade balance for the month of November fell beyond market forecasts and housing prices grew for the first time since April of 2008.

The UK's good trade deficit fell to £6.8B in November compared to the revised £7.0B for October. Analysts had predicted a more modest decline of £6.9B.

The total trade deficit followed suit, dropping to £2.9B in November from £3.2B in October and once again slightly bettering the expectations of £3.0B.

Housing prices grew by 0.6% last November, making it the first month of positive price growth since the spring of 2008. This result marks the eighth straight month of improvement in the health of the housing market, up from -2.2% in October and ahead of forecasts of 0.3% growth.

GBP/USD (Jan 13 at 05:32 GMT)

1.6186/88 (0.16%)

H 1.61928 L 1.6133

S3S2S1R1R2R3
1.60941.61341.61751.61891.62291.6270
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Jan 13 at 04:53 (15-minute timeframe)


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