- Trump to announce a new tariff at 20:00 GMT; The plan may include 20 % duties on almost all American commercial partners.
- The United Kingdom hopes to exempt amid balanced trade relations; GBP combines optimism and cautious mood.
- Strong ADP data and durable goods data fail to raise the dollar before the NFP and Powell speech later this week.
The British pound (GBP) is progressing early during the North American session against the US dollar (USD), where merchants await the announcement by the President of the United States (the United States), which may stimulate the global economic slowdown. At the time of writing this report, GBP/USD is trading at 1.2950, an increase of 0.22 %.
The British pound earns 0.22 % despite the strong American data, as the market concentration turns into a 20 % mutual tariff on global trade
At 20:00 GMT, Donald Trump is expected to announce the imposition of mutual definitions on commercial partners in the White House park. Although the percentage of duties applied to American trading partners are unknown, Washington Post stated that Trump’s assistants were considering a plan of about 20 % of each country.
This can go out of the Economy path in the UK (UK), but the British still hope that the duties imposed because the UK has a more balanced trade relationship with the United States.
Strong job numbers in the United States, previously unveiled, failed to strengthen Greenback. The change of national employment ADP in March showed that companies added 155,000 to the workforce, more than 105 thousand expectations and an increase of 84 thousand jobs created in February.
Other data showed that durable goods orders in February exceeded 0.9 % estimates and expanded 1 % of my mother.
The outstanding points for this week include Trump’s advertisement, followed by primary unemployment claims on Thursday and PMI services. On Friday, merchants will look at the unintended salary statements and Federal Reserve Chairman Jerome Powell.
GBP/USD price expectations: Technical expectations
GBP/USD climbs to the highest new level for two days, which is an indication that buyers intervene, with them looking to the following main resistance seen at the peak of March 27 of 1.2991. If it is wiped, 1.3000 has risen, followed by the highest level of the year to the date of (YTD) of 1.3014, before looking to the highest level last November at 1.3047.
On the contrary, a decrease less than 1,2900 can send a decrease in the GBP/USD to its lowest fresh level for four days under 1.2878, where sellers look at the simple moving average test for 200 days (SMA) at 1.2806.
British pound price this week
The table below shows the percentage of change in the British pound (GBP) against the main currencies listed this week. The British pound was the strongest against the Swiss franc.
| US dollar | euro | GBP | JPY | CAD | Aud | Nzd | Chf | |
|---|---|---|---|---|---|---|---|---|
| US dollar | -0.23 % | -0.22 % | 0.17 % | 0.02 % | -0.20 % | -0.34 % | 0.32 % | |
| euro | 0.23 % | 0.11 % | 0.46 % | 0.29 % | 0.11 % | -08 % | 0.60 % | |
| GBP | 0.22 % | -11 % | 0.33 % | 0.22 % | -0.00 % | -16 % | 0.53 % | |
| JPY | -0.17 % | -0.46 % | -0.33 % | -0.17 % | -0.35 % | -0.49 % | 0.05 % | |
| CAD | -02 % | -0.29 % | -0.22 % | 0.17 % | -0.19 % | -0.36 % | 0.30 % | |
| Aud | 0.20 % | -11 % | 0.00 % | 0.35 % | 0.19 % | -16 % | 0.49 % | |
| Nzd | 0.34 % | 0.08 % | 0.16 % | 0.49 % | 0.36 % | 0.16 % | 0.66 % | |
| Chf | -0.32 % | -0.60 % | -53 % | -05 % | -0.30 % | -0.49 % | -66 % |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is chosen from the left column, while the quotation currency is chosen from the top row. For example, if you choose the British pound from the left column and move along the horizontal line to the US dollar, the percentage offered in the box will represent the GBP (Base)/USD (quotation).
