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May 19, 2023After ending the previous trading day at 1.6746, GBP/CAD went up to 1.6857 only to drop back; still positive overall today, now trading at 1.68.
Sterling-Canadian dollar upside coincides with further encouraging market factors as Canada Core Retail Sales came out at -0.3%, better than analyst estimates of -0.8% and improving upon the previous reading of -0.7%.
Meanwhile, United Kingdom CFTC GBP speculative net positions released today at 20:30 UTC with a figure of 12,600, while the previous figure was 4,500. Fresh Retail Sales data released in Canada matched analyst forecasts with a reading of -1.4% — a backwards step from its previous reading of -0.2%.
A look at other currencies also shows bullish price action as NZD/USD added 0.78% to its value, now trading at 0.6277.
While Sterling-Canadian dollar is up today, these currencies are lagging behind: USD/CHF is down to 0.899, losing 61 pips, after closing at 0.9052 in the preceding trading session. USD/JPY descends 0.56% to trade around 137.88.
As things stand, Sterling-Canadian dollar is 2.19% away from a significant high of 1.7121, first set 16 days ago.
