Release Explanation: An economic indicator that measures sales of newly built and existing homes. The release includes both quantity and price statistics. The House Price Index and Home Loans cover each region’s house valuations and the amount of Mortgage/Lending being made on them.
Trade Desk Thoughts: U.K. house prices have continued to decline for sixteen straight months, falling 17.6% year-over-year. The average price for a U.K. house in February reached £147,746. Analysts believe the bottom in the housing market has not been hit, even though some improvements have been seen in the last months.
Forex Technical Reaction: The pound traded virtually flat tonight, even though earlier, it gained 70 pips.