{"id":95570,"date":"2020-02-05T08:21:38","date_gmt":"2020-02-05T13:21:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95570"},"modified":"2020-02-05T08:34:21","modified_gmt":"2020-02-05T13:34:21","slug":"102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/","title":{"rendered":"GBP\/CAD Advances on Wednesday Driven by Strong UK Services PMI"},"content":{"rendered":"

GBP\/CAD<\/a> continues the bullish journey that started on Monday, though the pair has been quite volatile today. Currently, one British pound<\/a> buys 1.7338, up 0.27% as of 11:22 AM UTC.<\/p>\n

The Pound Sterling<\/a> accelerated its growth after IHS Markit published the UK services purchasing managers\u2019 index (PMI), which showed that the British economy<\/a> continued to strengthen after the election won by Prime Minister Boris Johnson. The services PMI increased to 53.9 in January, up one point compared to the preliminary reading and up from 50.0 in December. Analysts polled by Reuters expected an increase to 52.9. The January performance is the strongest since September 2018.<\/p>\n

IHS Markit maintained its economic<\/a> outlook that points to quarterly growth of about 0.2% at the start of 2020.<\/p>\n

The services PMI survey showed that new business in the industry grew in January at the fastest pace since June 2018.<\/p>\n

Howard Archer, economist at EY ITEM Club, commented<\/a> on the report:<\/p>\n

\u201cThe survey fuels our belief that the economy could conceivably achieve GDP growth of 0.4% quarter-on-quarter in the first quarter of 2020. However, a concern for the economy is that the upside for business willingness to commit to investment and major projects may be limited by still significant concerns and uncertainties over the UK-EU relationship.\u201d<\/em><\/p>\n

The UK, which left the European bloc at the end of last month, has to reach consensus on a trade deal with European leaders. However, there is an ongoing debate between Johnson and EU officials.<\/p>\n

The services PMI\u2019s measure of business expectations increased to the highest level in five years.<\/p>\n

The composite PMI, which merges the services and manufacturing industries, increased last month to 53.3 from December\u2019s 49.3 and the preliminary January reading of 52.4, touching the highest level since September 2018.<\/p>\n

The sterling was boosted by the services PMI and ignored the auto market data according to which new car registrations fell last month by 7.3% year on year, to 61,717.<\/p>\n

The decline was driven by a 14% fall in private consumers\u2019 car purchases.<\/p>\n

Mike Hawes, CEO of Society of Motor Manufacturers and Traders (SMMT), which prepared the report, said<\/a>:<\/p>\n

\u201cThe new car market is a key driver of the UK’s overall economy, so another month of decline is unsettling. Consumer confidence is not returning to the market.\u201d<\/em><\/p>\n

\n
Currencylive.com<\/em> is a news site only and not a currency trading platform.<\/em><\/h6>\n
Currencylive.com is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

GBP\/CAD continues the bullish journey that started on Monday, though the pair has been quite volatile today. Currently, one British pound buys 1.7338, up 0.27% as of 11:22 AM UTC. The Pound Sterling accelerated its growth after IHS Markit published the UK services purchasing managers\u2019 index (PMI), which showed that the British economy continued to […]<\/p>\n","protected":false},"author":163946603,"featured_media":5647,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1379],"tags":[1680,1394],"class_list":{"0":"post-95570","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-gbp","9":"tag-cad","10":"tag-gbp"},"acf":[],"yoast_head":"\nGBP\/CAD Advances on Wednesday Driven by Strong UK Services PMI - Currency Live<\/title>\n<meta name=\"description\" content=\"GBP\/CAD continues the bullish journey that started on Monday, though the pair has been quite volatile today\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"headline\":\"GBP\\\/CAD Advances on Wednesday Driven by Strong UK Services PMI\",\"datePublished\":\"2020-02-05T13:21:38+00:00\",\"dateModified\":\"2020-02-05T13:34:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/\"},\"wordCount\":621,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"keywords\":[\"cad\",\"gbp\"],\"articleSection\":[\"CAD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/\",\"name\":\"GBP\\\/CAD Advances on Wednesday Driven by Strong UK Services PMI - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"datePublished\":\"2020-02-05T13:21:38+00:00\",\"dateModified\":\"2020-02-05T13:34:21+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"description\":\"GBP\\\/CAD continues the bullish journey that started on Monday, though the pair has been quite volatile today\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"width\":1200,\"height\":675,\"caption\":\"usd-100-bank-notes - USD\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/CAD Advances on Wednesday Driven by Strong UK Services PMI\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\",\"name\":\"Anatol Antonovici\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g\",\"caption\":\"Anatol Antonovici\"},\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/anatol-antonovici\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/CAD Advances on Wednesday Driven by Strong UK Services PMI - Currency Live","description":"GBP\/CAD continues the bullish journey that started on Monday, though the pair has been quite volatile today","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/","twitter_misc":{"Written by":"Anatol Antonovici","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/"},"author":{"name":"Anatol Antonovici","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3bd9732cd8453e3df154132a302a4416"},"headline":"GBP\/CAD Advances on Wednesday Driven by Strong UK Services PMI","datePublished":"2020-02-05T13:21:38+00:00","dateModified":"2020-02-05T13:34:21+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/"},"wordCount":621,"image":{"@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100663-gbp-usd-pound-lacks-drivers.jpg","keywords":["cad","gbp"],"articleSection":["CAD","GBP"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/","url":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/","name":"GBP\/CAD Advances on Wednesday Driven by Strong UK Services PMI - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100663-gbp-usd-pound-lacks-drivers.jpg","datePublished":"2020-02-05T13:21:38+00:00","dateModified":"2020-02-05T13:34:21+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3bd9732cd8453e3df154132a302a4416"},"description":"GBP\/CAD continues the bullish journey that started on Monday, though the pair has been quite volatile today","breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100663-gbp-usd-pound-lacks-drivers.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100663-gbp-usd-pound-lacks-drivers.jpg","width":1200,"height":675,"caption":"usd-100-bank-notes - USD"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/102287-gbp-cad-advances-on-wednesday-driven-by-strong-uk-services-pmi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/CAD Advances on Wednesday Driven by Strong UK Services PMI"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3bd9732cd8453e3df154132a302a4416","name":"Anatol Antonovici","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9b23529ef6d1b9eddc67d7e2f40de69381b9a206e65ee298de90ba9310adca87?s=96&d=blank&r=g","caption":"Anatol Antonovici"},"url":"https:\/\/currencylive.com\/news\/author\/anatol-antonovici\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100663-gbp-usd-pound-lacks-drivers.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946603"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=95570"}],"version-history":[{"count":1,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95570\/revisions"}],"predecessor-version":[{"id":95572,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95570\/revisions\/95572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/5647"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=95570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=95570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=95570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}