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UK Housing and Eurozone Inflation Drive a Steady Market Outlook

UK housing prices rose month-on-month by 0.3%, above expectations of a stagnant 0% forecast. Indicating that even with the anticipated budget, the UK housing market has not been affected at least yet of the policy changes regarding increased surcharges beginning for high value properties in 2028. Property taxes should not have a significant impact on the housing market according to chief economist at Nationwide. Breaking down the figures, this will only apply to less than 1% of properties across England and 3% of London properties.

Inflation rate and core inflation rate flash released came out this morning for Europe. Core inflation is unchanged at 2.4% while inflation rate rose from 2.1% to 2.2%. Still within range to ECB’s target rate of 2%, indicating that inflation levels are only edging slightly higher. This will be welcomed by the European Central Bank backing their stance of holding rates at bay.

This Tuesday is quiet of economic data releases and focus will now shift to Wednesday and labour figures for the US, followed service PMI later in the afternoon. ADP employment change tomorrow could bring more weight than normal with no non-farm payroll released this month.

GBP/EUR 1.1353 GBP/USD 1.3183 GBP/AED 4.8417
GBP/AUD 2.0142 GBP/CHF 1.0607 GBP/CAD 1.8470
GBP/NZD 2.3077 EUR/USD 1.1596 GBP/ZAR 22.5922

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