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25 Feb 2015

UK Mortgage Approvals Climb

Data just released has revealed that the number of mortgage approvals in the UK climbed for January, bolstering hopes that recovery in the housing market is regaining pace. Moving ahead, tomorrow’s revised UK GDP reading for the final quarter of 2014 is unlikely to show any change from the prior estimate. However, the print’s sub measures will be closely eyed to gain a better insight into Britain’s macro health. Across the Atlantic, the US Fed Chief expressed confidence in the US economy’s recovery and hinted that the Fed might consider changing its policy stance "on a meeting-by-meeting basis" going forward. In the Euro zone, finance ministers approved the extension of Greece’s bailout by four months yesterday which kept the Euro supported against the majors.