Latest data released by the Bank of England - 1 May 2018
- Prior 63.9k; revised to 63.8k
- Net consumer credit £0.3 bn vs £1.4 bn expected
- Prior £1.6 bn; revised to £1.7
- Net lending secured on dwellings £4.0 bn vs £3.6 bn expected
- M4 money supply m/m -1.4% vs -0.3% prior
- M4 money supply y/y +2.2% vs +4.1% prior
- M4 ex IOFCs annualised +1.2% vs +3.3% prior
Not much in the credit and money supply data as they are mostly within expectations.
The focus is on the PMI report. Sterling tumbles further after the report misses expectations and it seems like the weather or transitory factors may not be what they are as the poor readings continue into Q2.
GBP/USD now to lows of 1.3703. EUR/GBP up to 0.8785, GBP/JPY down to 150.05.
