Spot is little changed on the day as the Canadian Dollar (CAD) consolidates.
Spot is little changed on the day as the Canadian Dollar consolidates. CAD sentiment has taken a hit in the wake of Trump’s tariff threats but sentiment was already pretty weak anyway and, after the initial CAD slide on the headlines Tuesday evening, USDCAD has tended to drift modestly lower. More CAD losses seem inevitable unless the Canadian government can muster a response that satisfies the incoming administration quickly, however.
CAD trades little changed on the session “Trump’s recently named ‘border czar’ Tom Homan recently called the northern border 'an extreme national security issue'which suggests an quick fix to the president-elect’s concerns may be elusive. The risk of 25% tariffs remains just that at the moment but the longer the threat lingers and the closer we get to the inauguration, the weaker the CAD may trade.” “Consolidation remains the name of the game for the CAD.
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