GBP/USD: Ready to stumble
A busy day including disease headlines, economic figures, and market mood swings, will likely move the cable, according to FXStreet’s analyst Yohay Elam.
“Investors are zooming in coronavirus figures, which are becoming more worrying in the UK. A flatter coronavirus curve could boost the pound while an ongoing upward trajectory would weigh on sterling.”
“ADP’s private-sector labor market figures for March are projected to show a loss of 150,000 jobs. A depressing statistic from ADP may push stocks lower and the safe-haven dollar higher.”
“The ISM Manufacturing Purchasing Managers’ Index awaits traders later. Economists are expecting a relatively moderate fall to 45 points.”
“Markit’s Final Manufacturing PMI will likely confirm the score of 48 points.”