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February 22, 2023
GBP/CAD posts light gains on a low-volatility day, ranging between 1.6168 – 1.6419 and is now at 1.6387.
Nevertheless, Core Retail Sales in Canada fell short of market expectations (-0.3%) with a reading of -0.6%, continuing the decline from the previous figure of -0.5%.
At the same time, Canada Core Consumer Prices came out at 0.3%, while a consensus of analysts was expecting 0.2%. United Kingdom Services PMI released yesterday at 09:30 UTC with a figure of 53.3, while the previous figure was 48.7.
At the same time, EUR/JPY closed at 143.2 (down 0.32%). GBP/NZD is down 58 pips from the beginning of the session and now trades around 1.9414. After ending yesterday's session at 1.7129, EUR/NZD lost 61 pips and is trading around 1.7067.
Elsewhere, United Kingdom BoE MPC Member Mann scheduled to come out tomorrow at 09:30 UTC. United Kingdom BoE MPC Member Cunliffe speech is scheduled tomorrow at 10:45 UTC. Canada New Housing Price Index (MoM) (Jan) is expected today at 13:30 UTC.
Having established significant support at 1.4665 approximately 4 months ago, Sterling-Canadian dollar's share price has bounced 11.69% higher.
