GBP/USD Daily Forecast - 31 December

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Tuesday, Dec 30 2014

Tuesday brought Nationwide house price data from the UK. UK house prices rose by 0.2% in December, missing market expectations on incline by 0.3%. Annual house price growth slowed for the fourth month in a row to 7.2% from 8.5% in November. House prices increased by 7.2% over the course of 2014, after rising by 8.4% in 2013.

In the US CB Consumer Confidence figures were released. The Conference Board Consumer Confidence Index, which had declined in November, improved in December. The Index now stands at 92.6 up from 91.0 in November. However, analysts were forecasting an incline to 94.6. The Present Situation Index rose to 98.6 from 93.7, while the Expectations Index decreased to 88.5 from 89.3 in November.

As for tomorrow, only minor importance quarterly Housing Equity Withdrawal figures will be released. A figure of -9.2 billion pound is anticipated. US session will bring Unemployment Claims, Pending Home Sales and Chicago PMI data. Unemployment Claims are forecasted to increase to 287,000. Chicago PMI should fall to 60.2 points, while Pending Home Sales should raise by 0.6%.

Figures to watch:

Unemployment Claims (Wednesday 14:30)

Chicago PMI (Wednesday 15:45)

Pending Home Sales (Wednesday 16:00)

Last modified on Tuesday, 30 December 2014

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