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June 15, 2023Slightly weaker but mostly flat: GBP/CAD is currently trading at 1.6863 as it maintains an active range between 1.6762 and 1.6886.
Highly important Manufacturing Production data from United Kingdom beat analyst expectations of -0.4% with a reading of -0.3%.
While price action maintains a negative bias, United Kingdom Monthly GDP 3M/3M Change (Apr) released yesterday at 06:00 UTC with a figure of 0.1, while the previous figure was 0.1. United Kingdom GDP (YoY) (Apr) came out at 0.5, while a consensus of analysts was expecting 0.6.
Positive performances can be seen by looking at other currencies as EUR/JPY is up 1.03% to 153.15. USD/JPY surges 0.85% to trade around 141.17. EUR/NZD jumps 0.81% to trade around 1.7591.
Furthermore, Canada Wholesale Sales (MoM) (Apr) will be released tomorrow at 12:30 UTC. Canada Manufacturing Sales (MoM) (Apr) is expected today at 12:30 UTC. United Kingdom CFTC GBP speculative net positions is scheduled for tomorrow at 20:30 UTC.
As things stand, Sterling-Canadian dollar is 15% away from a significant low of 1.4665 first set 8 months ago.
