Trade Desk Thoughts - U.K. Nationwide HPI

U.K. Nationwide HPI Actual -1.7%, Expected -1.6%, Previous -1.7% (Revised from -1.9%)

Release Explanation: An economic indicator that measures sales of newly built and existing homes. The release includes both quantity and price statistics. The House Price Index and Home Loans cover each region's house valuations and the amount of Mortgage/Lending being made on them.

Trade Desk Thoughts: U.K. house prices have continued to decline for eleven uninterrupted months, reaching -12.4% year-over-year. In September, prices declined by 1.7%, more than analyst had predicted. The average price for a U.K. house in September reached £161,797. Analysts believe the bottom in the housing market was not hit, saying the central bank may have to cut rates, sooner or later.

Forex Technical Reaction: The pound moved 15 pips at the time of the release, after the pair traded flat during the Asian session

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