Latest data released by the Bank of England - 29 June 2018
- Prior 62.5k; revised to 62.9k
- Net consumer credit £1.4 bn vs £1.5 bn expected
- Prior £1.8 bn
- Net lending secured on dwellings £3.9 bn vs £3.7 bn expected
- M4 money supply +0.4% vs +0.2% m/m prior
- M4 money supply +1.8% vs +1.1% y/y prior
- M4 ex IOFCs annualised +3.4% vs -0.7% prior
Nothing much to glean from the report here. The focus of the market was on the GDP figures, but as mentioned there even the GDP report wasn't stellar and the upward revision in the quarterly estimate isn't really good news in my view.
But cable is climbing still as the dollar weakens further. GBP/USD touched a high of 1.3183 on the day with the dollar also hitting lows against the loonie, aussie and kiwi.
