The GBPUSD is trading at 8:10 GMT at 1.2875 from the opening price of 1.2866 after recording the highest of 1.2887 and the lowest of 1.2831.
The GBPUSD hit a one-week low at $ 1.2831 on Thursday, before rebounding from this level with the opening of European markets. This comes ahead of the release of the services sector data in April. Earlier data showed this week the growth of the manufacturing sector British during the April / April the highest pace in three years, the growth of the construction sector pace better than the expectations of economists, the positive signs of recovery in the course of the British economy during the second quarter of this year.
By 08:30 GMT, the Purchasing Managers’ Index (PMI) is expected to reach 54.6 points in April from 55.0 in March.
USD index raises
USD index ended yesterday’s trading up by 0.5 percent, the largest daily gain since March 30, as the US currency accelerated against most currencies, especially after the possibility of raising US interest rates in June to 90 percent of 70 Percent before the Fed’s monetary policy statement.
Keep the Federal Reserve at the end of the meeting lasted over two days on fixed interest rates unchanged at one percent, according to most forecasts in the financial markets.
The monetary policy statement reflects the optimism of the board members towards the path of economic growth in the country, where members stressed that the decline in growth in the first quarter of this year is a temporary decline, and stressed the strength of the labor market and that levels of consumer spending are still strong.
By trading, the dollar index at 8:11 GMT, around the level of 99.10 points from the opening level of 99.25 points, scored the highest level of 99.54 points and the lowest level of 99.05 points.
The dollar index on the Asian market hit a two-week high of 99.54 points on Thursday, before retreating from the European session to lose part of yesterday’s strong gains. The US economy is expected to release important data on the labor market and US factory orders later in the day.
On the Job Market Unemployment claims for the week ending 29 April are expected to rise from 247K to 257K for the previous week. The initial reading of one job costs is expected to rise by 2.5% during the first quarter of 2017 from a 1.7% rise in the fourth quarter of 2016, Preliminary reading of non-agricultural productivity is expected to rise 0.1% during the first quarter from a 1.3% rise in the fourth quarter.
The trade balance data released a forecast deficit of $ 44.9 billion in March from a deficit of 43.6 in February.
US factory orders are expected to rise 0.6% in March from 1.0% in February.