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May 03, 2023While yesterday ended at 1.6986, today, GBP/CAD rallied above 1.7074 for the first time in 1 year and gained 74 pips — now trading at 1.7061.
At the same time, United Kingdom Manufacturing PMI came out at 47.8, while a consensus of analysts was expecting 46.6. United Kingdom Nationwide HPI (MoM) (Apr) released yesterday at 06:00 UTC with a figure of 0.5, while the previous figure was -0.7. United Kingdom Nationwide HPI (YoY) (Apr) released yesterday at 06:00 UTC with a figure of -2.7, while the previous figure was -3.1.
While Sterling-Canadian dollar is up today, these currencies are lagging behind: USD/JPY is trading around 135.35 (down 117 pips). USD/CHF is down to 0.8872, losing 58 pips, after closing at 0.893 in the preceding trading session. EUR/JPY is down to 149.51, losing 70 pips, after closing at 150.21 in the preceding trading session.
Furthermore, the market is looking at United Kingdom Services PMI figure is projected at 54.9. It previously stood at 52.9; data will be released tomorrow at 08:30 UTC. United Kingdom Composite PMI is expected tomorrow at 08:30 UTC. Canada Ivey PMI (Apr) will be released tomorrow at 14:00 UTC. Canada Trade Balance (Mar) is expected tomorrow at 12:30 UTC.
As things stand, Sterling-Canadian dollar is 0.19% away from a significant high of 1.7018, first set 3 days ago.
