After ending yesterday at 1.4744, Sterling-Canadian dollar improves slightly to 1.4744 (down 14,743 pips) .
A good end to the trading week, GBP/CAD is up to 1.4744, after closing yesterday at zero. Overall, a 0% move or 14,743 pips this week. (Start trading Sterling-Canadian dollar at FXTM today).
Nevertheless, Core Retail Sales in Canada fell short of market expectations (-1.2%) with a reading of -3.1%, continuing the decline from the previous figure of 0.6%.
Meanwhile, United Kingdom Manufacturing PMI came out at 48.5, while a consensus of analysts was expecting 47.5. United Kingdom Services PMI released today at 08:30 UTC with a figure of 49.2, while the previous figure was 50.9. United Kingdom Composite PMI released today at 08:30 UTC with a figure of 48.4, while the previous figure was 49.6. United Kingdom BoE Interest Rate Decision (Sep) released yesterday at 11:00 UTC with a figure of 2.25, while the previous figure was 1.75.
Outlook for rest of the week: Positive indicators for Sterling-Canadian dollar are expected going forward as United Kingdom GDP is expected Friday.
Also worthy of note, Thursday data for Canada GDP will be released, with an expected decline to -0.1% from the preceding figure of 0.1%.
Also worthy of note, United Kingdom Current Account (Q2) scheduled to come out Friday.