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May 12, 2023Sterling-Canadian dollar trades at 1.689 after gaining 17 pips (0.1%).
United Kingdom's GDP new data released of 0.2% below its previous figure.
Uptick comes while some more positive signs for Sterling-Canadian dollar are out as highly important GDP data from United Kingdom beat analyst expectations of 0.1% with a reading of -0.3%. Fresh GDP data released in United Kingdom matched analyst forecasts with a reading of 0.2% — a backwards step from its previous reading of 0.6%.
Nevertheless, data for United Kingdom Manufacturing Production published today at 06:00 UTC came out at 0.7%, beating projections of -0.1% and showing improvement over the preceding figure of 0.1%.
Elsewhere, other currency pairs are also gaining ground as GBP/NZD is up 1.16% to 2.0084. EUR/NZD jumps 0.97% to trade around 1.7491.
Meanwhile, NZD/USD is down 64 pips from the beginning of the session and now trades around 0.6236.
Elsewhere, United Kingdom NIESR Monthly GDP Tracker will be released today at 13:00 UTC. United Kingdom BoE MPC Member Pill speech set for today at 11:15 UTC. United Kingdom CFTC GBP speculative net positions is scheduled for today at 20:30 UTC.
As things stand, Sterling-Canadian dollar is 1.45% away from a significant high of 1.7121, first set 9 days ago.
