UK Nationwide House Prices Beat Expectations

UK Nationwide House Prices
??? MoM sa??? YoY nsa
Actual:??? 0.9%??? 10.2%
Consensus:??? 0.6%??? 9.5%
Previous:??? 0.5% (rh)??? 9.3%

The UK Nationwide?Building Society reported that house prices grew by a seasonally adjusted 0.9 percent through the month of April, confirming overall strength in similar housing figures. The UK consumer shows few signs of slowing robust spending, with steadily gaining real estate prices indicative of strong demand for housing. April gains represent the highest in four months, with housing prices only adding to existing pressures on the Bank of England to tighten monetary policy.

The GBPUSD remained slightly higher in the moments to follow, with a 5 point rally leaving it at Asia session highs of 2.0060 in the moments to follow. It will be quite important to see whether overall momentum will be enough to drive Cable through weekly highs of 2.0080. A break eyes further resistance at 16-year highs at 2.0134.