What an Afternoon For The GBP/CAD
Sterling has lost 0.27% against the loonie,
falling from the November 2012 prices after a series of announcements of
British economic indicators. Today were released the latest figures for
industrial and manufacturing production in the UK. The numbers came out
in line with expectations, with YoY contractions of 2.6% and 1.3%,
respectively. The MoM growth rates did better than expected, changing by
0.9% and -0.9% (instead of 0.5% and -1.3%), respectively. At 11 GMT,
the BoE will make public its interest rate decision and whether or not
to modify the Asset Purchase Facility, which is now at 325 billion
pounds.
On the other side of the Atlantic, Canada's New Housing
Price Index is forecasted to print a 0.2% increase while international
merchandise trade should reach 0.50 billion dollars in March.
The
pair is currently trading at 1.6132, facing resistance at 1.6205, ahead
of 1.6242 and 1.6278, according to Fxstreet.com pivot points on
technical tools. On the downside, there is support at 1.6132, before
1.6096 and 1.6059.
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