UK housing market hit by Brexit and election double-whammy - Rightmove survey

Dhwani Mehta FXStreet

The latest survey conducted by the UK’s property website Rightmove showed that the number of British properties put up on offer has fallen dramatically to a decade lows 10 amid Brexit and election uncertainty, per Reuters.

Key Findings:

“There were 14.9% fewer properties put on sale in the four weeks to Nov. 9 than in the same period last year.

That was the biggest annual fall since August 2009, shortly after the global financial crisis.

The average price of property coming to market rose by an annual 0.3%, in line with other measures showing house prices almost flat-lining, and the number of sales agreed was down by 2.9%.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD climbs above 1.3250 as markets assess UK PM Starmer resignation

GBP/USD regains its traction and trades inn positive territory above 1.3250 on Monday, following a drop below 1.3200 with the immediate reaction to UK PM Keir Starmer's resignation announcement.

EUR/USD holds above 1.1450 on improving risk mood

EUR/USD rebounds from session lows and trades virtually unchanged above 1.1450 in the American session on Monday. News of the US and Iran making progress in the latest round of talks help the market mood improve and allow the pair to keep its footing.

Gold clings to gains near $4,200 as tensions in Middle East ease

Gold stays in positive territory ar around $4,200 on Monday, looking to snap a three-day losing streak. News of US and Iran making progress in the latest round of talks seems to be helping the precious metal hold its ground at the beginning of the week.

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."

Is Shiba Inu dead or just in a crisis? The data behind SHIB's 95% crash

SHIB, the dog-themed meme coin that became one of the biggest success stories in crypto and turned early buyers into crypto millionaires, is facing tough times. Its price has fallen more than 32% so far this year, and it is down 95% from its all-time high in 2021. Is SHIB simply another fading meme coin, or is the market overlooking a possible recovery story?

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.