GBP / USD

On Friday, the dollar index increased by 0.47%. Michael Saunders, member of the Bank of England Monetary Policy Committee, reiterated the statement from Central Bank Governor Mark Carney about the economic and political challenges that lead to a slow increase in rates, while recently he supported the May rate hike. The expectation of the gold for the rate hike from the Fed was down to 0.84%. The British pound lost 83 points.

The political picture of Brexit represented by Theresa May seems blurred before our eyes. The European Union did not accept the London proposal on the border with Ireland, this also indicates a signal for the difficulties in the draft trade agreement.

The United States expects a positive economic data today. The forecast for Composite PMI from Markit for April is 55.3 against 54.2 before. PMI in the service sector is expected to increase from 54.0 to 54.3. Sales growth in the secondary housing market for March is expected at 0.2%. We are expecting for the pound in the range of 1.3910 / 30.

* The presented market analysis is informative and does not constitute a guide to the transaction.