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Sterling still stable above 1.55 handle

Monday, Jun 15 2015
There are no major data releases from the UK today,so it is a steadier morning part of the session with traders being cautious ahead of major data releases later in the week. Also, Sterling fell on Friday afternoon and continued this trend at the beginning of Monday's session after a speech from the head of the Bank of England Governor Mark Carney offered investors no clues as to when interest rates might be lifted from their historic lows.
 
Earlier this morning, only minor importance Rightmove house prices index figures were released. Price of property coming to market rebounded to all-time high as majority-government surprise leads to biggest ever rise in month of June, up 3.0% (+£8,460) to £294,351. Six out of ten regions set new record price highs as supply/demand imbalance continues to head north. Election certainty boosted buyer activity but anticipated rise in new seller numbers failed to materialise. High demand and low supply highlight urgency for delivery of more new-build homes.
 
Sterling is currently being traded few points above 1.5530 area. Pair is likely to find support around 1.5450 and resistance above 1.5570 level. Later today, in the US session, Empire State Manufacturing Index and Industrial Production figures are scheduled for a release.
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