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June 07, 2023After ending yesterday at 1.6641, today GBP/CAD went up to 1.6733 before paring back gains and settling around 1.662.
Sterling-Canadian dollar is currently trading at 1.662 following the release of Interest Rate data from the Canada.
United Kingdom Construction PMI came out at 51.6, better than analyst estimates of 51.1 and improving upon the previous reading of 51.1.
While price action maintains a negative bias, Canada Interest Rate released today at 14:00 UTC with a figure of 4.75, while the previous figure was 4.5. Canada Ivey PMI (May) came out at 53.5, while a consensus of analysts was expecting 57.2.
Though Sterling-Canadian dollar has been dropping, other pairs have been performing better: GBP/NZD jumps 0.79% to trade around 2.059. EUR/NZD surges 0.71% to trade around 1.7716. GBP/JPY rises 0.45% to trade around 174.16.
Furthermore, United Kingdom RICS House Price Balance (May) is expected today at 23:01 UTC.
The currency pair has been trending lower for about a month. As things stand, Sterling-Canadian dollar is 2.8% away from a significant high of 1.7121, first set a month ago.
