GBP/CAD is forecast to see gains fade near 1.1710 and losses staunched close to 1.7130 in the coming week, which will be dominated by UK and Canadian inflation releases.
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The Canadian Dollar was amongst the top-performing currencies in the G10 after the Bank of Canada held its benchmark overnight rate at 5.0%, but this could have more to do with the U.S. Dollar's ra…
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The Bank of Canada is likely to verify expectations for a June rate cut at its midweek meeting, which can weigh on the Canadian Dollar say analysts.
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GBP/CAD is looking a whole lot perkier than at this same point one week ago, courtesy of that soft Canadian jobs report on Friday.
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The Canadian Dollar was sold across the board as fissures in Canada's jobs market opened, leading to increased bets the Bank of Canada can no longer afford to delay cutting interest rates.
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There is a definite feel in the air that the Pound's outlook against the Canadian Dollar has flipped to the downside amidst strengthening U.S. data and rising oil prices.
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The data shows the Canadian Dollar tends to benefit from strong seasonal dynamics in April.
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