Forex Weekly Round Up – 15 December 2014 – 19 December 2014

Here is our market summary for the week commencing 15 December 2014.

In the UK, figures released by LSL property services showed house price growth increased to 11.3pc in November, up from 11pc in October. First-time buyers borrowed 22pc more than in October 2014 compared with October 2013. They also borrowed 10pc more than in September 2014, based on figures from the Council of Mortgage Lenders. Inflation fell to just 1pc after plunging oil prices were fed through to UK consumers.

In November, US industrial production hit its highest levels since May 2010. US manufacturing is supporting economic growth. The weak oil price cut the cost of gasoline. The original expectation was prices to fall 0.1pc in November but in reality they fell by 0.3pc. New figures released show the number of Americans filing for unemployment benefits fell as the US economy continued to show improvement.

Russia’s Central Bank made a drastic interest rate move, increasing its key rate to 17pc from 10.5pc.

The Indian rupee fell to 11-month lows on speculation importers increased dollar purchases before the year end.