Sterling-Canadian dollar currency pair adds 27 pips or 0.17%

Published: January 26 2023, 06:50 GMT+0

Sterling-Canadian dollar currency pair adds 27 pips or 0.17%

Small gain for GBP/CAD at 1.6618 after ranging between 1.6584 and 1.6633 today.

Meanwhile, Canada Interest Rate released yesterday at 15:00 UTC with a figure of 4.5, while the previous figure was 4.25. United Kingdom PPI Input (MoM) (Dec) came out at -1.1, while a consensus of analysts was expecting -0.6.

A look at other currencies also shows bullish price action as NZD/USD is up 0.2%.

While Sterling-Canadian dollar is up today, these currencies are lagging behind: USD/SGD is down to 1.311, losing 18 pips, after closing at 1.3129 in the preceding trading session. USD/JPY closed at 129.27 (down 0.18%).

The market is looking forward to the release of new data: United Kingdom Labour Productivity is scheduled for today at 09:30 UTC. Canada Wholesale Sales (MoM) scheduled to come out today at 13:30 UTC. United Kingdom CFTC GBP speculative net positions will be released tomorrow at 20:30 UTC.

Having established significant support at 1.4665 approximately 4 months ago, Sterling-Canadian dollar's share price has bounced 13.13% higher.