Trade Desk Thoughts - U.K. DCLG HPI

U.K. DCLG HPI Actual -03.%, Expected -2.0%, Previous 0.6%

Release Explanation: Measures the change in the selling price of homes in U.K.

Trade Desk Thoughts: U.K. house prices came in down 0.3% from July 2007. The release was higher than what analysts’ had predicted. The average price of a home stood at £217,171 in July. In January 2008, house prices were 7.9% higher than one year earlier.

Forex Technical Reaction: The pound fell 30 pips soon after the release. The pair is now testing the support area of the range it traded in during the overnight session

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