The Pound started the week with the growth. Overview for 21.08.2017

The GPB/USD pair is trading upwards; the market is not in sympathy with the American currency.

The British Pound started another August week with the growth against the USD. The current quote for the instrument is 1.2880.

Today’s statistics from the United Kingdom showed that the Rightmove HPI expanded by 0.9% m/m in July. On YoY, the indicator added 3.1%. In June, it increased by 0.2% m/m (2.8% y/y). The report indicates average prices for the residential real estate in the country and helps to get the latest information about the economy in general: as a rule, the real estate sector is very sensitive to changes in business and population sentiments.

In London, house prices added 1.6% y/y in July, but lost 1.9% m/m.

In the British banking sector, there are no speculations about disinvestments, but there are among European bankers and third parties. Recently, these speculations have moved to a completely new level, when Angela Merkel, the Chancellor of Germany, “sent her regards” to the Wall Street bankers and said that she would be glad to welcome the banking business in Germany after the Brexit, when some part of it would leave the United Kingdom for a while.

The Irish leaders said almost the same, but they were humbler. However, all these words have no effect to the Pound or the British stocks, because investors want to see what happens after the Brexit and only after that start making any conclusions.

RoboForex Analytical Department