Sterling-Canadian dollar set for strong finish today; up 0.68% to 1.6592

Published: January 25 2023, 20:50 GMT+0

Sterling-Canadian dollar set for strong finish today; up 0.68% to 1.6592

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 1.6592.

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.

Other currencies are also rising as GBP/NZD is up 0.81%.

At the same time, USD/SGD is down 61 pips from the beginning of the session and now trades around 1.3132. USD/CHF closed at 0.918 (down 0.48%).

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

Having set a significant low of 1.4665 3 months ago, Sterling-Canadian dollar is trading 12.37% higher.

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