- GBP / USD is posting modest gains as markets are inactive on a Good Friday holiday.
- The departure of British Prime Minister Boris Johnson from intensive care, the general weakness of the US dollar has pleased buyers late.
- The coronavirus update, the Brexit drama continues to offer background music, the US CPI was expected.
As Good Friday is extinguished on the main world markets, the GBP / USD remains slightly modified around 1.2465 during the first movements of the day. In doing so, the pair appear to be cheering on British Prime Minister Johnson’s exit from the intensive care unit (ICU) due to a lack of major data / catalysts before the US Consumer Price Index (CPI) figures. ).
Towards the end of Thursday in the UK, the chief conservative was transferred from intensive care but kept in hospital. Number 10 said he “had been transferred tonight from intensive care to the service, where he will be closely monitored during the first phase of his recovery,” according to the BBC.
On a larger scale, Reuters said the total number of deaths in UK hospitals from COVID-19 increased by 881 to 7,978 at 4:00 p.m. GMT on April 8, the government announced on Thursday.
As a result, the tone of risk struggles between smiling and crying as the UK scrambles with the coronavirus virus (COVID-19).
The pessimism surrounding the Brexit date also affected the cable as the new phantom chancellor of the Labor Party, Anneliese Dodds, urged the ministers to beware of putting “ideology above the national interest”. On the other hand, the UK Express made headlines suggesting that delaying the transition period could cost British taxpayers £ 26 billion a year.
Elsewhere, the President of the United States Federal Reserve (Fed), Jerome Powell, anticipated unfavorable economic conditions during the second quarter (Q2) of 2020 before expecting a recovery in the second half.
While depicting the tone of risk, the Japanese TOPIX recently climbed to 1,424, up 0.56%, while stocks in China remained mixed at press time.
Given the lack of major data / catalysts prior to the US data, investors can seek coronavirus updates for middle management. However, inflation figures expected in the United States for March could keep the pair strong.
Buyers are waiting for an upward clearance from the March 27 high around 1.2485 to target the 50-day and 200-day SMAs on the daily chart, respectively at 1.2560 and 1.2660.