Yesterday's session brought UK Net Lending to Individuals and Mortgage Approvals figures were released. Broad money increased by £3.0 billion in September. Within this, the flow of household M4 was the largest contributor at £3.8 billion. The flow of M4 for private non-financial corporations (PNFCs) was -£1.5 billion, a particularly weak outturn. The net flow of sterling credit remained robust at £9.6 billion in September. Within this, lending to households has been growing steadily at around 4% per year.
Mortgage approvals for house purchase fell slightly to 66,232 in September, close to their recent average. The annual growth rate of consumer credit has remained broadly unchanged since June, at around 10%. The flow was £1.6 billion in September, also close to its recent average.
There will be no major data releases from the UK tomorrow. In the US session Consumer Confidence figures will be published. Incline to 121.1 is anticipated.
Figures to watch:
CB Consumer Confidence (Tuesday 15:00)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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