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July 01, 2023Yesterday at a glance: GBP/CAD spiked to 1.6823, gaining 112 pips.
Sterling-Canadian dollar upside coincides with further encouraging market factors as 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%.
At the same time, United Kingdom's GDP published yesterday at 06:00 UTC came out at 0.1. The fresh reading lived up to analyst expectations as well as matching the previous month's figure. United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 52,000, while the previous figure was 46,600.
Other currencies are also rising as NZD/USD jumps 1.14% yesterday and closed at 0.6069. GBP/USD is trading around 1.2698 after ending yesterday's session at 1.261 (up 0.69% today).
Meanwhile, EUR/NZD falls 0.68% yesterday and closed at 1.79.
After setting a supportive marker at 1.4665 around 9 months ago, Sterling-Canadian dollar is now trading 13.94% above this level.
