GBPCAD Fundamental Analysis – July 21st 2017

Here is the key factor to keep in mind today for British Pound trades:

UK Public Sector Net Borrowing: UK Public Sector Net Borrowing for June was reported at £6.3B and UK Public Sector Net Borrowing excluding Banking Groups at £6.8B. Economists predicted a figure of £4.2B and £4.9B. Forex traders can compare this to UK Public Sector Net Borrowing for May which was reported at £6.4B and UK Public Sector Net Borrowing excluding Banking Groups which was reported at £7.0B. UK Public Finances for June were reported at £18.3B and UK Central Government Borrowing at £17.8B. Forex traders can compare this to UK Public Finances for May which was reported at £13.4B and UK Central Government Borrowing which was reported at £9.8B.

Here are the key factors to keep in mind today for Canadian Dollar trades:

Canadian CPI: The Canadian CPI for June is predicted to decrease by 0.1% monthly and to increase by 1.1% annualized. Forex traders can compare this to the Canadian CPI for May which increased by 0.1% monthly and by 1.3% annualized.
Canadian Retail Sales: Canadian Retail Sales for May are predicted to increase by 0.3% monthly. Forex traders can compare this to Canadian Retail Sales for April which increased by 0.8% monthly. Canadian Retail Sales Less Autos for May are predicted flat at 0.0% monthly. Forex traders can compare this to Canadian Retail Sales Less Autos for April which increased by 1.5% monthly.

Should price action for the GBPCAD remain inside the or breakout above the 1.6320 to 1.6360 zone the following trade set-up is recommended:

Should price action for the GBPCAD breakdown below 1.6320 the following trade set-up is recommended:

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