As we approach Thursday, market observers note that the GBP/CAD exchange rate is likely driven by the upcoming release of the UK’s S&P Global PMIs for May. Although the recent UK Consumer Price Index (CPI) numbers have shown notable increases, the Pound remains somewhat muted against the Canadian dollar. Analysts forecast a rise in both manufacturing and services indices this month, with anticipation for the services sector to return to positive territory. This economic backdrop may influence trading strategies for the GBP/CAD pair significantly. Traders should prepare for volatility as the new data is released, shaping the expectations around this currency pair moving forward.