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June 12, 2023
GBP/CAD slides down from 1.6782 to 1.6719 today, losing 62 pips (0.37%).
United Kingdom Average Earnings Index +Bonus data will be released tomorrow at 06:00 UTC, with an expected improvement to 6.1. Sterling-Canadian dollar reaction to indicator information will follow.
In the meantime, negative performances are seen in other pairs, GBP/USD is down 68 pips from the beginning of the session and now trades around 1.2513.
Positive performances can be seen by looking at other currencies as having closed the previous session at 0.9027, USD/CHF is up 0.67% today to currently trade at around 0.9087. EUR/GBP is up 0.57%.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United Kingdom Average Earnings Index +Bonus is projected to outperform its last figure with 6.1, having previously been at 5.8. The figure will be published tomorrow at 06:00 UTC.
Furthermore, United Kingdom Claimant Count Change (May) is scheduled for tomorrow at 06:00 UTC. United Kingdom BoE Gov Bailey speech scheduled to come out tomorrow at 14:00 UTC.
Trading mostly sideways for a month. As things stand, Sterling-Canadian dollar is 1.98% away from a significant high of 1.7121, first set a month ago.
