GBP/USD: The pound wants to take a walk

The fate of the lockdown and several critical data points will determine the next moves on the cable, Yohay Elam, an analyst at FXStreet, reports.

Key quotes

“The PM is set to provide full details of his plans to ease the lockdown over the weekend. The trend has been encouraging and will likely result in some kind of immediate easing, yet it could be minor, disappointing markets.” 

“Apart from the headline quarterly figure, the GDP statistic for March will also be of interest. Industrial output, which should be better than other sectors. may also rock markets.” 

“If the illness remains under control, it could boost markets and weaken the dollar, while a setback could have the opposite effect.” 

“Tensions between the US and China will also remain high on investors' minds. If recent clashes remain in the realm of rhetoric and fade away, it would be positive for risk.”