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April 12, 2023GBP/CAD posts light gains on a low-volatility day, ranging between 1.6716 – 1.6809 and is now at 1.6732.
United Kingdom BoE Gov Bailey speech is next today at 13:00 UTC.
Meanwhile, United Kingdom Mortgage Rate (GBP) (Mar) came out at 7.22, while a consensus of analysts was expecting seven.
A look at other currencies also shows bullish price action as having closed the previous session at 145.86, EUR/JPY is up 0.22% today to currently trade at around 146.18. GBP/JPY is up 0.2%.
Other currencies are showing mixed performance as USD/JPY moves 0.1% to trade around 133.8.
Positive indicators for Sterling-Canadian dollar are expected going forward as tomorrow at 06:00 UTC data for United Kingdom GDP will be released, with an expected decline to 0.1% from the preceding figure of 0.3%.
Furthermore, the market is looking at United Kingdom Manufacturing Production is projected to outperform its last figure with 0.2%, having previously been at -0.4%. The figure will be published tomorrow at 06:00 UTC.
Also worthy of note, Canada Interest Rate figure is projected at 4.5. It previously stood at 4.5; data will be released today at 14:00 UTC.
The currency pair has been trending positively for about 2 months. After setting a supportive marker at 1.4665 around 6 months ago, Sterling-Canadian dollar is now trading 14.07% higher.
