While yesterday ended at 1.6552, today, GBP/CAD rallied above 1.6677 for the first time in 8 months and gained 111 pips — now trading at 1.6663.
Canada Interest Rate is next today at 15:00 UTC.
This move comes while some more positive signs for Sterling-Canadian dollar are out as Construction PMI in United Kingdom fell short of market expectations (52) with a reading of 50.4, continuing the decline from the previous figure of 53.2.
At the same time, Canada Ivey PMI (Nov) came out at 51.4, while a consensus of analysts was expecting 51. United Kingdom Mortgage Rate (GBP) (Nov) released today at 10:00 UTC with a figure of 5.88, while the previous figure was 5.41.
Other currencies are also rising as EUR/USD is up 0.71% to 1.0543. GBP/USD is up 0.69%. Having closed the previous session at 0.6321, NZD/USD is up 0.88% today to currently trade at around 0.6377.
Furthermore, the market is looking at Canada Interest Rate figure is projected at 4.25. It previously stood at 3.75; data will be released today at 15:00 UTC. Canada Ivey PMI (Nov) is expected tomorrow at 15:00 UTC. United Kingdom RICS House Price Balance (Nov) scheduled to come out tomorrow at 00:01 UTC. Canada BoC Rate Statement will be released today at 15:00 UTC.
The currency pair has been trending positively for about a month. After setting a supportive marker at 1.4665 around 2 months ago, Sterling-Canadian dollar is now trading 12.87% higher.