U.K. Real Estate Business Activity Data
- Iindex of business activity in the construction sector (Mar), fact 49.7, the forecast 49.8.
Business activity in the UK construction sector does not meet market expectations for the fourth consecutive month, thereby coming close to the minimum values for the year. At this time, housing prices in the UK, by contrast, continue to show growth from the start of the year.
Fig. 1. Graph of business activity index in the UK construction sector
The British pound reacted very cautiously to the weak data on the real estate market in the UK. The main dynamics of the pound continues to depend on political factors and risks for Brexit. The lack of a Brexit deal and the inability of the UK Parliament to find a way out of the current situation puts more pressure on the British pound than the statistician. There are opinions on the market that the policy of British Prime Minister T. May may soon end in retirement. As a result, it only increases the risks for the British.
GBP/USD pair remains under pressure from uncertainty, limited to resistance levels: 1.3120 and 1.3160, support: 1.2990 and 1.2930.
Fig. 2. GBP/USD chart. Current price – 1.3050
Read also: “Gold. Expectations for March 2019!”
Hanzenko Anton
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