GBP / USD
On the first day of the week, the pound added 41 points on the decline in the dollar index (-0.33%) and a number of macroeconomic indicators that exceeded forecasts. The index of residential property prices in the UK from Halifax in March showed an increase of 1.5% against expectations of 0.1% and the February growth was revised from 0.4% to 0.5%. The BRC retail sales review in May's forward estimate showed an increase of 1.4% after 0.6% in April. Tomorrow there will be important indicators on industrial production and trade balance in the February assessment. Industrial production is expected to grow by 0.5%, production in the manufacturing sector may show an increase of 0.2%, production in the construction sector is projected to grow by 0.8%. The commodity trade balance of the UK is expected to improve from -12.3 billion pounds to -11.9 billion pounds. The forecast of GDP from NIESR for March is expected to grow by 0.3%, as in February. At the same time, according to the US, the producer price index for March is forecasted by a slight increase of 0.1% and wholesale stocks in warehouses in the final estimate for February can be reduced to 0.8% from 1.1% earlier. Tomorrow the US CPI for March is expected with a zero change.
We are waiting for the pound to rise to 1.4215.
