This morning markets heard UK house prices recorded their biggest falls since October 2008.
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The pound and euro remain marginally up against the US dollar. Both currencies are currently trading considerably higher against the dollar when compared to this time last month.
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The dollar rallied against other major currencies as the business day came to a close yesterday. This was due to the latest ISM services figures beating market expectations.
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It's been a choppy 7 days for the euro. EUR/USD has maintained gains however the EUR/GBP currency pair is marginally lower than this time last week.
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Just as Britain anticipated a wave of strikes impacting its economy over Christmas, the Rail, Maritime and Transport union announced an extra set of strikes yesterday.
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Leader of the labour party, Sir Keir Starmer, has argued that the UK re-joining the EU’s single market would not boost the country’s economy, but rather create “years of uncertainty” for UK business.
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There will be several data releases over the course of this week however, a key one to watch will be America's balance of trade which is scheduled in for tomorrow after lunch.
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Like GBP/USD, the EUR/USD pair also entered December on a strong footing reaching a fresh six-month high. This week, ECB member, Kerstin Margareta af Jochnick will speak.
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