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May 17, 2023
GBP/CAD is grinding lower from 1.6824 to 1.6788, shedding 36 pips (0.21%) today.
Sterling-Canadian dollar is currently trading at 1.6788 following the release of BoE Gov Bailey speech data from the United Kingdom.
While price action maintains a negative bias, Canada Core Consumer Prices released yesterday at 12:30 UTC with a figure of 0.5%, while the previous figure was 0.6%. United Kingdom Claimant Count Change (Apr) came out at 46,700, while a consensus of analysts was expecting 31,200. United Kingdom's Average Earnings Index +Bonus published yesterday at 06:00 UTC came out at 5.8. The fresh reading lived up to analyst expectations as well as matching the previous month's figure.
In the meantime, negative performances are seen in other pairs, GBP/NZD closed at 1.9914 (down 0.53%). After ending yesterday's session at 1.7431, EUR/NZD lost 97 pips and is trading around 1.7334.
Positive performances can be seen by looking at other currencies as USD/JPY is up 0.39%.
Furthermore, United Kingdom BoE MPC Treasury Committee Hearings scheduled to come out tomorrow at 09:15 UTC. Canada Foreign Securities Purchases (Mar) is scheduled for today at 12:30 UTC. Canada BoC Gov Macklem speech will be released tomorrow at 15:00 UTC.
Sterling-Canadian dollar is now trading 1.74% away from its significant high of 1.7121 first tested 14 days ago.
