GBP/CAD is still weakening especially after the Bank of Canada (BoC) raised its interest rate by 0.25% last week. Today, Canada will release core retail sales and core cpi data that are expected to have a high impact on the market. From the UK, the good retail sales data on yesterday gave support for GBP to turn bullish.
Technically, the pair is trying to rise from the 1.13 level. GBP is very possible to turn stronger against the Canadian Dollar if core retail sales and core cpi data is below expectations.
Technically, the pair is trying to rise from the 1.13 level. GBP is very possible to turn stronger against the Canadian Dollar if core retail sales and core cpi data is below expectations.