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March 01, 2023GBP/CAD posts light gains on a low-volatility day, ranging between 1.6351 – 1.6522 and is now at 1.6419.
- United Kingdom BoE Gov Bailey speech is next today at 10:00 UTC.
- 1.6522 is Sterling-Canadian dollar's highest rate in 4 weeks.
Earlier data releases related to Sterling-Canadian dollar – United Kingdom Manufacturing PMI released today at 09:30 UTC with a figure of 49.3, while the previous figure was 49.2. GDP in Canada fell short of market expectations (0.1%) with a reading of -0.1%, continuing the decline from the previous figure of 0.1%.
Technical analysis of Sterling-Canadian dollar before macro data is released:
Coming up for Sterling-Canadian dollar — United Kingdom BoE Gov Bailey speech will be released today at 10:00 UTC. United Kingdom BoE MPC Member Pill speech is scheduled tomorrow at 15:00 UTC.
As the markets get ready for more data to be released — GBP/NZD closed at 1.9289 (down 0.79%). After ending yesterday's session at 1.3472, USD/SGD lost 62 pips and is trading around 1.341. NZD/USD rallies 1.12% to trade around 0.6256.
Having set a significant low of 1.4665 5 months ago, Sterling-Canadian dollar is trading 11.84% higher.
