Market Focus

On Thursday, May 3, 2018, the focus should be on data on the index of business activity in the services sector of Great Britain. The index of business activity in the services sector measures the level of activity of purchasing managers in the services sector and indicates well-being in this sector of the country’s economy. The service sector is the leading sector of the UK economy and accounts for 3/4 of GDP.

According to the forecast, the index of business activity in April will rise to the level of 53.0, against 51.7 in March. In case of data release within the forecast, the pound will receive support. In the event that the change in the indicator is within 5% or more, one should expect the pair GBP/USD to move within 50 points.

Alexander Sivtsov