Trade Desk Thoughts - U.K. Nationwide Consumer Confidence

U.K. Nationwide Consumer Confidence Actual 50, Expected 48, Previous 53

Release Explanation: This is a survey that queries economic participants on their current and future expectations for the UK economy. The figure is released at the start of each month, making Nationwide Consumer Confidence a timely measure of consumer sentiment now and in the immediate future.

Trade Desk Thoughts: Consumer confidence in the U.K. has beaten economists' expectations by 2 points for the month of September. The Nationwide consumer confidence reading came in at 50, which is slightly lower than last month's revised figure of 53.

Forex Technical Reaction: The pound has fallen to support seen in late afternoon trading at 1.7450 which is just below the neutral pivot point at 1.7497.

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