The Pound is getting ready to retreat. Overview for 20.04.2020
GBPUSD is falling on Monday in anticipation of news and numbers.
The British Pound is getting a little bit weaker against the USD on Monday afternoon. The current quote for the instrument is 1.2470.
The statistics published in the morning showed that the Rightmove HPI lost 0.2% m/m in April after adding 1.0% m/m in March.
This week, the United Kingdom is scheduled to publish a lot of numbers and the Pound will eventually have to respond to them. As early as on Tuesday, the country will report on the labor market. The Unemployment Rate is expected to remain unchanged at 3.9% in February. The Average Earnings Index may add 3.0% 3m/y after expanding by 3.1% 3m/y in the previous period. Another report, the Claimant Count Change, may bring some unpleasant surprises.
Later in the week, market players will be presented with the PPI Input and Output, as well as the CPI and the Core CPI. The RPI is expected to drop from 2.5% y/y in February to 2.3% y/y in March.
Any weak, I mean weaker than expected, report may force the Pound to plunge.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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