Bullish currency pair Sterling-Canadian dollar runs out of steam at 1.663; currently at 1.663

Published: January 26 2023, 01:45 GMT+0

Bullish currency pair Sterling-Canadian dollar runs out of steam at 1.663; currently at 1.663

After closing at 1.6591 yesterday, GBP/CAD began today at 1.6589 with significant bullish sentiment driving GBP/CAD's price action higher. So far today, price action has drawn out a distinct 1.6584 to 1.663 range.

At the same time, Canada Interest Rate came out at 4.5, while a consensus of analysts was expecting 4.5. United Kingdom PPI Input (MoM) (Dec) released yesterday at 07:00 UTC with a figure of -1.1, while the previous figure was 0.6.

Elsewhere, United Kingdom Labour Productivity scheduled to come out today at 09:30 UTC. Canada Wholesale Sales (MoM) is expected today at 13:30 UTC. United Kingdom CFTC GBP speculative net positions is scheduled for tomorrow at 20:30 UTC.

As things stand, Sterling-Canadian dollar is 13.13% away from a significant low of 1.4665 first set 4 months ago.

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