From the UK, yesterday, house prices data was released. House prices in the three months to December were 1.6% higher than in the previous three months. This was the second successive month that this measure has been below 2.0%, indicating a possible slight softening in the underlying rate of price growth. On a monthly basis house prices rose 1.7%. Analysts were predicting 0.5% increase. There remains, however, a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices.
Tomorrow, form the UK, Trade Balance data will be published. Deficit is predicted to fall to 10.5 billion pounds. In the US session NFP figures are scheduled for a release. Analysts are expecting increase by 203,000 in number of employed and unemployment rate to remain unchanged at 5.0%.
Figures to watch:
Trade Balance (Friday 10:30)
Non-Farm Employment Change/Average Hourly Earnings/Unemployment Rate (Friday 14:30)
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