| 
May 06, 2023Yesterday at a glance: GBP/CAD slid down from 1.702 to 1.6894, losing 125 pips (0.74%) today.
Highly important Construction PMI data from United Kingdom beat analyst expectations of 51 with a reading of 51.1.
On the flip side, highly important Employment Change data from Canada beat analyst expectations of 20,000 with a reading of 41,400.
Amid the market gloom, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 1,100, while the previous figure was 5,800.
Sterling-Canadian dollar's value drop coincided with the fact that after ending yesterday's session at 1.4907, EUR/CAD lost 176 pips and is trading around 1.473. After ending yesterday's session at 1.354, USD/CAD lost 168 pips and is trading around 1.3371.
Though Sterling-Canadian dollar has been dropping, other pairs have been performing better: GBP/JPY went up by 0.95% yesterday, and closed at 170.32.
Sterling-Canadian dollar is now trading 0.59% away from its significant high of 1.7121 first tested 3 days ago.
