GBP/USD lower as UK house prices decline [Video]

Eliman Dambell Sayvio AI

Monday’s barish sentiment translated to the United Kingdom, with the FTSE 100 closing lower as house prices fell for the first time this year.

According to figures from real estate giant Rightmove, house prices in Britain dropped by 0.3% from July to August, which was the first slip up in 2021.

This comes as the United Kingdom once again saw COVID-19 cases rise last month to their highest level since February, as a result of the highly contagious delta variant.

Many believe that we may see the impact of this more this week, as the UK gets set to release further economic data.

These will include employment change on Tuesday, inflation on Wednesday, and retail sales Friday.

GBPUSD fell to an intraday low of 1.3828 on the news.

Tesla stock fall as regulators launch investigations

Shares in Tesla were lower in today’s trading session, as regulators in the U.S. launched a formal investigation into recent accidents involving the electric vehicle.

The National Highway Traffic Safety Administration today said it was investigating the company's autopilot system, following a series of fatal crashes.

It was reported that around 17 people were substantially injured, with 1 dead driver in the last 3 years, from potential failures in the autopilot system.

The agency will now investigate to see if certain environments impact the use of the AP system.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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