10.04 - GBP/USD registers modest gains as markets are inactive on a Good Friday holiday
- by George Solotarov
On the broader scale, Reuters said that total UK hospital deaths from COVID-19 rose by 881 to 7,978 as of 1600 GMT on April 8, the government said on Thursday. As a result, the risk tone struggles between smile and cry as the UK jostles with the coronavirus (COVID-19) virus.
Also affecting the Cable were the pessimism surrounding Brexit date as the new Labour Party shadow Chancellor Anneliese Dodds urged ministers to beware putting "ideology over the national interest". On the other hand, the UK Express conveyed the headlines suggesting the Transition period delay could cost UK taxpayer £26 billion a year. Elsewhere, the US Federal Reserve (Fed) Chair Jerome Powell anticipated downbeat economics during the second quarter (Q2) of 2020 before expecting the recovery in the second half of the year. While portraying the risk-tone, Japan’s TOPIX recently recovered to 1,424, up 0.56%, whereas stocks in China remain mixed by the press time.
Given the lack of major data ahead of the US data, investors may search for the coronavirus updates for intermediate direction. However, the expectedly downbeat US inflation figures for March could keep the pair strong.