The Conference Board reports that its index of leading indicators gained in April. This is the 4th consecutive month of growth even though the pace of growth seems to be declining.
The index reached 104 points in April due to the growth of 5 components out of 7.
According to Jean-Claude Manini, The Conference Board Senior Economist for Europe, that the overall picture suggests that the economic activity is stabilizing after 2 month of negative dynamics.
Forex.
According to the currency strategists of , the British Pound has started a mid-term uptrend against the US Dollar. Despite that, the experts warn that the rally is still a part of the recovery against the long-term downtrend represented by wave A/B of wave level Weekly.
At this point, the currency pair is forming wave А(С)/С inside the given upswing. The following levels will act as resistance: 1.5783, 1.5804, 1.5905. The rally will be completed as soon as the price breaks below the Mf sloping channel and consolidates below the MF pivot 1.5475 (as shown below):
