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June 06, 2023GBP/CAD drops from 1.6708 to 1.6636, losing 71 pips (0.43%) today.
Sterling-Canadian dollar is currently trading at 1.6636 following the release of Ivey PMI (May) data from the Canada.
Highly important Construction PMI data from United Kingdom beat analyst expectations of 51 with a reading of 51.6.
Amid the market gloom, Canada Ivey PMI (May) came out at 53.5, while a consensus of analysts was expecting 57.2. United Kingdom Composite PMI released yesterday at 08:30 UTC with a figure of 54, while the previous figure was 54.9.
In the meantime, negative performances are also seen in other pairs as EUR/AUD closed at 1.6046 (down 0.86%). EUR/CAD retreats 0.44% to trade around 1.4332.
Positive performances can be seen by looking at other currencies as USD/CHF is up 0.35%.
Furthermore, Canada Interest Rate figure is projected at 4.5. It previously stood at 4.5; data will be released tomorrow at 14:00 UTC. United Kingdom House Price Index figure is projected at -0.9%. It previously stood at 0.1%; data will be released tomorrow at 06:00 UTC. Canada Labor Productivity (QoQ) (Q1) will be released tomorrow at 12:30 UTC.
The currency pair has been trending lower for about a month. Sterling-Canadian dollar is now trading 2.41% away from its significant high of 1.7121 first tested a month ago.
