British mortgage approvals rose for the first time in five months in June, suggesting lenders were getting back into their stride after the introduction of more stringent tests for borrowers earlier this year.
The Bank of England said mortgage approvals jumped 8 percent from May to 67,196 last month, analysts had forecast a smaller rise in approvals to 62,600.
Monthly mortgage approvals are still short of the 90,000 level seen before the 2008 financial crisis, and below a recent peak of just over 76,000 in January
As well as the introduction in April of tougher checks on whether borrowers can afford their mortgages, the BoE last month announced measures to prevent a build-up of risky home loans.
US consumer confidence jumped to best level since 2007 and despite the growing geopolitical tensions, US consumers appear in confident mood. Consumer confidence jumped to 90.9 in July, up from a revised 86.4 the previous month and better than the 85.3 expected buy economists.
This consumer confidence figure is the highest monthly level since October 2007, before the financial crisis struck.
However US house prices missed analysts forecasts with the Case -Shiller Price Index survey showed that prices rose by 9.4% annually in May, compared to 10.8% in the year to April
European Union governments reached a deal yesterday to impose economic sanctions against Russia, targeting its oil industry, defence, dual-use goods and sensitive technologies.
These sanctions are designed to put a further squeeze on Russia’s already struggling economy and push Vladimir Putin to take action against the rebels occupying parts of the Ukraine.
The IMF says the growing tensions over Ukraine could undermine financial markets in Europe and beyond with a lot of Europe’s largest companies having strong ties to Russia.
10:00 BST- EUR- Eurozone Economic sentiment (July) expected to be lower at 101.8
13:00 BST - EUR- Germany Consumer price index (July) YoY lower to 0.8% from
13:30 BST -USD- Q2 GDP expected to be higher at 3.00%
19:00 BST- USD- Fed Bond Repurchase program expected to be reduced another 10 Billion
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