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April 04, 2023Tentatively higher from an earlier low of 1.6655, GBP/CAD is up to 1.6796 today, adding 129 pips, or 0.78%, to yesterday's closing price of 1.6666.
At the same time, United Kingdom Manufacturing PMI released yesterday at 08:30 UTC with a figure of 47.9, while the previous figure was 49.3. Canada Building Permits came out at 8.6%, while a consensus of analysts was expecting 2%.
Elsewhere, other currency pairs are also gaining ground as having closed the previous session at 1.6065, EUR/AUD is up 0.96% today to currently trade at around 1.622. GBP/USD is up 0.68%. GBP/NZD is up 0.54%.
Furthermore, the market is looking at United Kingdom Composite PMI is expected tomorrow at 08:30 UTC. United Kingdom Services PMI figure is projected at 52.8. It previously stood at 52.8; data will be released tomorrow at 08:30 UTC. Canada Trade Balance (Feb) scheduled to come out tomorrow at 12:30 UTC.
The currency pair has been trending positively for about a month. Having set a significant low of 1.4665 6 months ago, Sterling-Canadian dollar is trading 13.64% higher.
