- September 14, 2018
- Posted by: Trading
- Category: Market Overview
The Canadian dollar fell Friday. After the Trump administration softened its stance on international trade, in particular by reopening trade talks with China, NAFTA optimism boosted the . Traders did not feel confident in carrying over short dollar positions into the weekend and the greenback saw a recovery on Friday.
USD/CAD for Sept. 14, 2018.
The loonie advanced 1 percent during the week and next week’s inflation and retail sales data on Friday are crucial for the fate of a Bank of Canada interest rate hike. NAFTA headlines will roll in as the team of negotiations get back to work with the aim to add Canada to to U.S.-Mexico agreement.
Expectations are mixed on NAFTA, as Canada seems ready to make concessions on dairy but the U.S. and Mexico continue to press for a trilateral deal while also adding they are ready to forge ahead if its only a bilateral one.
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