Kicking off the session at 1.6483, Sterling-Canadian dollar currency pair peaks at 1.6615

Published: January 25 2023, 20:01 GMT+0

Kicking off the session at 1.6483, Sterling-Canadian dollar currency pair peaks at 1.6615

After closing the previous trading day at 1.6479, GBP/CAD went up to 1.6615 only to drop back; still positive overall today, now trading at 1.6591.

Meanwhile, Canada Interest Rate came out at 4.5, while a consensus of analysts was expecting 4.5. United Kingdom Services PMI released yesterday at 09:30 UTC with a figure of 48, while the previous figure was 49.9. Fresh Composite PMI data from United Kingdom came out at 47.8.

Other currencies are also rising as GBP/NZD is up 0.85%.

While Sterling-Canadian dollar is up today, these currencies are lagging behind: USD/SGD drops 0.48% to trade around 1.3131. USD/CHF is down to 0.9179, losing 46 pips, after closing at 0.9225 in the preceding trading session.

Furthermore, the market is looking at United Kingdom Labour Productivity is expected tomorrow at 09:30 UTC. Canada Wholesale Sales (MoM) is scheduled for tomorrow at 13:30 UTC.

Sterling-Canadian dollar is now trading 12.37% away from its significant low of 1.4665 first tested 3 months ago.

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