GBP/USD: Testing unemployment claims

GBP/USD has been edging higher as Johnson's condition improves while the extension of the lockdown and a busy US economic calendar promise action, according to FXStreet’s analyst Yohay Elam.

Key quotes

“After spending the third night in intensive care, the next update about the PM's situation will also be eyed later in the day, alongside new statistics about COVID-19.”

“Unemployment claims are set to drop to 5.25 million in the week ending on April 3 after leaping to 6.648 million in the previous week.”

“Later on, preliminary Consumer Sentiment from the University of Michigan for April carries expectations for a drop to 75 from 89.1 in March.”

“Jerome Powell, Chairman of the Fed, will have the last word of a short trading week. The meeting minutes from the decision to cut borrowing costs on March 15 showed that the bank intends to use more tools to support the economy.”