GBP / USD
Yesterday, the British pound increased by 100 points which is its largest growth among other major currencies. The reason behind this was the increase in investors' risk appetite (the dollar index lost 0.41%) and rumors about the possible better deal with the EU on Brexit. Meanwhile, the latest developments in the United Kingdom shows an opposite picture, as the UK will leave the EU with a bad deal and the disappointment of investors due to stronger and higher pound goes on. Also on the same day, the leading economic index in Great Britain for February showed a decrease of 0.4%. Today, the number of applications for unemployment benefits for March may indicate growth by 13.3 thousand after an increase of 9.2 thousand in February. The unemployment rate is expected to remain unchanged at 4.3%. The average wage level, taking into account premiums, is expected to grow by 3.0% in February against 2.8% in January. This can be a strong factor for continuing active purchases of the British currency. According to the United States, the industrial production data is expected to weaken today, but the construction statistics seems optimistic. We are waiting for the pound sterling at 1.4410.
* The presented market analysis is informative and does not constitute a guide to the transaction.