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GBP/USD Daily Forecast – 12 December

Monday, Dec 11 2017
GBP/USD Daily Forecast – 12 December

Yesterday, from the UK Rightmove house prices data was released. Home owners have had a good run, with every year since 2011 seeing a rise in the price of property coming to market, and the national average rise over those six years being 30.9%, equivalent to 4.6% per year. 2018 will continue the 2017 trend by being a real mixed bag of different price pressures both up and down, but the net result is that we forecast another year of a slowing in the pace of price rises. The peak in the cycle of rising prices was 2015’s annual jump of 7.4%.

In the US session JOLTS Job Openings data was published. On the last business day of October, there were 6.0 million job openings, little changed from September. Job openings have been at or near record high levels since June. The job openings rate was 3.9 percent in October. The number of job openings edged down for total private and was little changed for government.  Job openings increased in accommodation and food services (+94,000), construction (+48,000), and real estate and rental and leasing (+40,000). Job openings decreased in wholesale trade (-90,000), finance and insurance (-47,000), information (-32,000), and nondurable goods manufacturing (-26,000).

 

Tomorrow's session will bring UK CPI and PPI figures. Analysts forecast no change in CPI, while PPI Input is expected to rise to 1.6%. In the US session PPI data will be published. 0.4% incline is anticipated.

 

Figures to watch:

 

CPI/PPI (Tuesday 10:30)

PPI (Tuesday 14:30)

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