June 7th 2011 at 7:00GMT Halifax released May’s House Price Index.
The previous value:-1.4% The forecast: 0.4%
Halifax HPI m/m - the second HPI report (but as significant as the main one) reflecting the price changes in the UK housing market over a certain period of time. However, only the deals sponsored by the bank are taken into account. 
If to compare Halifax HPI with Nationwide HPI (released a week before) it is possible to anticipate the near-term perspectives of the British Pound. A match of both the HPI reports is a strong signal indicating a good chance to trade GBPUSD. If there is no match the currency will probably stay around the strong price level of the previous trading sessions.
If there is little chance that the Bank of England will change the official bank rate, the HPI reports may become dominating as the fixed property trading is fairly profitable.
The index is of high importance to Forex traders. When it grows in value the British Pound strengthens against other currencies.
The data are published with the first working days of the month following the reporting one.
