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April 15, 2023
Yesterday at a glance: GBP/CAD slid into the red after losing 117 pips and ending the session at 1.6586.
Amid the market gloom, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of -2,400, while the previous figure was -14,800. Canada Manufacturing Sales (MoM) (Feb) came out at -3.6, while a consensus of analysts was expecting -2.7.
Sterling-Canadian dollar's value drop coincided with the fact that after ending yesterday's session at 0.6786, AUD/USD lost 76 pips and is trading around 0.671.
Though Sterling-Canadian dollar has been dropping, other pairs have been performing better: USD/SGD leaps up 0.64% yesterday and closed at 1.3222. EUR/NZD went up by 0.99% yesterday, and closed at 1.7707.
The currency pair has been trending positively for about 2 months. Sterling-Canadian dollar is now trading 13.9% away from its significant low of 1.4665 first tested 6 months ago.
