UK house prices jump 11.1% y/y in May

Tuesday, June 03, 2014

China’s non-manufacturing PMI surged to 55.5 in May from 54.8 in April, beating analysts’ expectations. However, China’s HSBC manufacturing PMI final was reported at 49.4 in May below expectations of 49.7. The Nikkei and Hang Seng indices climbed more than 0.6%, while the JPY consolidated around 102.30 against the USD.   

China's non-manufacturing PMI 

CPMINMAN Index (China Non -Manufa 2014-06-03 08-50-22

European equity markets have been trading sideways in early trade this morning, ahead of the release of Eurozone’s inflation and unemployment data. The euro has edged higher against the USD this morning trading above 1.36.  Investors could remain cautious ahead of the much-anticipated European Central Bank meeting on Thursday regarding Eurozone’s interest rate decision.

UK Nationwide house prices rose by 0.7% in May beating analysts’ expectations of a 0.6% rise, but below the 1.2% rise in April. The housing data showed British house prices rose in annual terms from 10.9% to 11.1%, their fastest pace in nearly seven years. Sterling rallied in early trade this morning climbing above 1.675.

UK Nationwide House prices

UKNBANYY Index (UK Nationwide Ho 2014-06-03 08-51-23

GBP Spot

GBP Curncy (British Pound Spot )  2014-06-03 08-51-45

 

Brent front month futures retreated yesterday and ended the session below $109 per barrel, near a three-week low, as an increase in OPEC’s oil production weighed on market sentiment, overshadowing optimistic economic data from the US and China. Russia and Ukraine agreed yesterday to consider a proposal for Kiev to pay off a multi-billion-dollar gas bill that has triggered concerns over relations between Moscow and Kiev.

Natural Gas Front Month

NG1 Comdty (Generic 1st 'NG' Fut 2014-06-03 08-52-25

 

 Events for today:

 

0245

CN

May

HSBC Manufacturing PMI

0600

UK

May

Nationwide House Price

1000

EZ

May

Inflation

1000

EZ

Apr

Unemployment

1445

US

May

ISM  manufacturing

1500

US

Apr

Factory Orders

1500

US

Jun

IBD Sentiment

  

All times UK Local Time

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