I also dove deeper into the Bank of Canada decision:
People are overlooking the survey data they released.It was highly unusual to publish a survey along with the decisionThe survey is the message and it shows 40% planning to decrease employment and 48% capital expenditureBroadly, I'm still upbeat on on the Canadian dollar from here because I don't think tariffs will (or can) last.
Trump is saying tariffs and annexation but the loonie isn’t falling, that’s the messageIf you listen to what Trump’s deputies are saying, they are still highlighting fentanyl, which I expect they will pivot away at month endWhite House Economic Advisor Kevin Hassett said it was a good time to get bullish in Canada and MexicoCongress has been relatively quiet, which I believe is short-term deference, likely only until month endI continue to believe that they’re asking to renegotiate USMCA sooner, though Canada is hardly in a position to agree to that because an election call is imminentWatch it here:
This article was written by Adam Button at www.forexlive.com. Read More Details
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