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June 21, 2023GBP/CAD weakened earlier in the day, before moving away from its 1.6773 low and recovering back to 1.6816.
Amid the market gloom, United Kingdom Consumer Price Index released today at 06:00 UTC with a figure of 8.7%, while the previous figure was 8.7%. Canada New Housing Price Index (MoM) (May) came out at 0.1, while a consensus of analysts was expecting zero. Canada Retail Sales came out at 1.1%, better than analyst estimates of 0.2% and improving upon the previous reading of -1.5%.
In the meantime, negative performances are seen in other pairs, GBP/NZD is trading around 2.056 (down 125 pips). USD/CHF is trading around 0.8925 (down 51 pips).
Though Sterling-Canadian dollar has been dropping, other pairs have been performing better: having closed the previous session at 154.39, EUR/JPY is up 0.85% today to currently trade at around 155.71.
Furthermore, United Kingdom BoE Interest Rate Decision (Jun) will be released tomorrow at 11:00 UTC. United Kingdom BOE Inflation Letter is scheduled for tomorrow at 12:00 UTC. United Kingdom BoE MPC vote hike (Jun) scheduled to come out tomorrow at 11:00 UTC.
As things stand, Sterling-Canadian dollar is 15.16% away from a significant low of 1.4665 first set 8 months ago.
