Sterling-Canadian dollar currency pair posts 0.7% gain

Published: January 25 2023, 19:45 GMT+0

Sterling-Canadian dollar currency pair posts 0.7% gain

Tentatively higher from an earlier low of 1.6439, GBP/CAD is up to 1.6595 today, adding 115 pips, or 0.7%, to yesterday's closing price of 1.6479.

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. 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 GBP/NZD gained 0.86% and is now trading at 1.9135.

At the same time, USD/SGD is trading around 1.3134 (down 59 pips). USD/CHF goes down 0.49% to trade around 0.918.

Elsewhere, United Kingdom Labour Productivity is expected tomorrow at 09:30 UTC. Canada Wholesale Sales (MoM) scheduled to come out tomorrow at 13:30 UTC.

After setting a supportive marker at 1.4665 around 3 months ago, Sterling-Canadian dollar is now trading 12.37% above this level.

Back