By Friday morning, GBPUSD has reached the lowest levels over the previous 10 days.
The British Pound continues falling against the USD on Friday morning. The current quote for the instrument is 1.3000.
Yesterday, the Bank of England member Michael Saunders said that if the Brexit deal didn’t happen, the British currency would have only one possible scenario – plummeting. He believes that weakening of the national currency will boost the inflation and nobody’s going to like it. On the other hand, the Brexit deal, in case it is successful, may help the British economy reach stability.
As a result, the Brexit talks remain the key trigger for the British currency, despite lack of news relating to it.
The United Kingdom is going to publish several macroeconomic reports today. First of all, investors might be interested in the preliminary number on the country’s GDP in the first quarter 2019. The indicator is expected to expand by 0.5% q/q after adding 0.2% q/q in the previous quarter. It will be curious to see the components of the report and understand why market expectations are so high. Obviously, the stronger the reading, the better for the Pound,
Apart from this, there will be numbers of the Industrial Production, the Construction Output, and the Manufacturing Production in March. The first indicator is expected to increase only by 0.2% m/m after adding 0.6% m/m in February. The second one may lose 0/8% m/m. Finally, the third report may show +0.1% m/m after +0.9% m/m in the previous month.
The Pound may really be very sensitive to these numbers.
Orgin: RoboForex
