Pound / Canadian Dollar Charts Suggesting Recovery Lies Ahead

Currency tacticians at HSBC are looking for the Canadian Dollar to underperform the U.S. Dollar into year end, although it could be in for gains against the Euro says JP Morgan.

“Inflation hasn't been this hot in Canada since Jennifer Lopez was topping the charts back in 2003” - CIBC Capital Markets.

The Pound to Canadian Dollar rate has attempted to draw a line under a two-month run of losses and could find itself well supported above 1.6912 this week.

GBP/CAD finding feet but struggling with 1.69 with support building near 1.67 as UK, CA data loom.

CAD tipped for a second year of outperformance in 2022.

GBP/CAD looks to stabilise above 2021’s low near 1.6700, aided by cleaner pricing of BoE & full expectations for Bank of Canada policy.