Sterling-Canadian dollar currency pair adds 115 pips or 0.7%

Published: January 25 2023, 20:45 GMT+0

Sterling-Canadian dollar currency pair adds 115 pips or 0.7%

After ending 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 1.6595.

Meanwhile, Canada Interest Rate released today at 15:00 UTC with a figure of 4.5, while the previous figure was 4.25. United Kingdom Services PMI came out at 48, while a consensus of analysts was expecting 49.6. United Kingdom Composite PMI came out at 47.8, while a consensus of analysts was expecting 49.3.

Elsewhere, other currency pairs are also gaining ground as having closed the previous session at 1.8972, GBP/NZD is up 0.84% today to currently trade at around 1.9132.

Meanwhile, after ending yesterday's session at 1.3194, USD/SGD lost 61 pips and is trading around 1.3132. USD/CHF withdraws 0.49% to trade around 0.9179.

Also worthy of note, United Kingdom Labour Productivity is scheduled for tomorrow at 09:30 UTC. Canada Wholesale Sales (MoM) is expected tomorrow at 13:30 UTC.

As things stand, Sterling-Canadian dollar is 12.37% away from a significant low of 1.4665 first set 3 months ago.

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