30, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

The first month of the 2nd quarter is expected to point to the fact that the activity in the dominant sector - services - continues to grow. Meanwhile, the rate of the decline in manufacturing activity is slowed.

HSBC economists believe that a stronger-than-expected growth in the Purchasing Managers Index PMI for the services sector in March will mean that an activity remained positive in April.

Other data which is expected this week will probably show that UK consumers in April are still pessimistic about their finances, bank lending remained subdued in March, while the growth in house prices was accelerated slightly in April compared with March.