USD/CAD: Canadian Dollar Lower As NAFTA Deadline Approaches


Talks between Canada and the United States are intensifying as the two countries push to hammer out a deal on a revamped North American Free Trade Agreement by a Friday deadline, with both sides upbeat about the progress made so far.

USD/CAD for Aug. 30, 2018.

USD/CAD for Aug. 30, 2018.

Despite some contentious issues still on the table, the increasingly positive tone contrasted with U.S. President Donald Trump’s harsh criticism of Canada in recent weeks, raising hopes that the year-long talks will conclude soon with a trilateral agreement.

Negotiations entered a crucial phase this week after the United States and Mexico announced a bilateral deal on Monday, paving the way for Canada to rejoin talks to salvage the 24-year-old accord that accounts for over $1 trillion in annual trade.

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