Housing Prices for the month of April have been announced in UK by the nationwide building society. The announced rate for the physical month of March was at 1.3% which was much lower than the -0.7% market speculation and the 0.1% of the previous month. Following the announcement of this bearish news in the UK for a second day straight the sterling lost around 10 pips against the Euro and the US Dollar.
The Nationwide Housing Prices shows how much house prices in the UK are valued and therefore indicating current movements in the housing market. As this market is a crucial factor for the UK economy, a high value is usually associated by hawkish currency behavior while a low value as bearish.