UK Confidence in Housing Market Near Three Year Low

Britons’ confidence in the housing market stayed near a three-year low in March as sentiment toward the economic outlook soured, according to Halifax.

An index of home-value expectations climbed to 44 from 42 in October, when Brexit pushed it down by a record to its lowest level since June 2013, the lender said on Friday. Fifty-eight percent of respondents predict prices will advance over the next 12 months, with 14 percent forecasting decreases.

The report adds to evidence that the property market is cooling under Brexit after prices boomed in the past decade. A measure of Britons’ expectations for the economy over the next year compiled by Ipsos MORI fell to its weakest level in five years last month, Halifax said. House price growth has weakened to the slowest in almost four years.

Bloomberg

Wolves Circle Oil and Gold Ahead of Le Crunch.

Gold Unchanged on Higher Jobless Claims and French Election Jitters

USD/JPY – Yen Shrugs Off Soft Japanese Trade Surplus

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.