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May 31, 2023After ending the previous trading day at 1.6878, GBP/CAD went up to 1.6909 only to drop back; still positive overall today, now trading at 1.6881.
Canada GDP data will be released today at 12:30 UTC, with an expected improvement to 0.2% (previous figure was 0.1%).
Meanwhile, Canada Current Account (Q1) released yesterday at 12:30 UTC with a figure of -6.2 billion, while the previous figure was -8.1 billion.
Elsewhere, other currency pairs are also gaining ground as USD/CHF is up 0.47% to 0.91.
At the same time, EUR/JPY drops 0.67% to trade around 149.03. EUR/USD is trading around 1.0678 (down 60 pips).
Positive indicators for Sterling-Canadian dollar are expected going forward as Canada GDP is projected to outperform its last figure with 0.2%. It previously stood at 0.1%; data will be released today at 12:30 UTC.
Also worthy of note, United Kingdom Manufacturing PMI figure is projected at 46.9. It previously stood at 46.9; data will be released tomorrow at 08:30 UTC. United Kingdom Nationwide HPI (MoM) (May) is scheduled for tomorrow at 06:00 UTC.
After setting a supportive marker at 1.4665 around 8 months ago, Sterling-Canadian dollar is now trading 15.09% higher.
