USD/CAD rises after strong employment data and US-Canada tensions
Friday, 7 August 2020 () The USD/CAD pair rose today as traders reacted to the strong jobs numbers from the US and Canada. The pair is also reacting to the new trade conflict between the two countries. US-China trade conflict President Donald Trump caught most people off-guard yesterday, when he announced new tariffs on Canadian aluminium. In a statement after he visited a Whirlpool plant, the president said that the 10% tariff will help protect American jobs. The timing of the announcement was important. It came just a month after the US, Canada, and Mexico signed the USMCA trade agreement to replace the previous NAFTA.
Friday, 7 August 2020 ()
The USD/CAD pair rose today as traders reacted to the strong jobs numbers from the US and Canada. The pair is also reacting to the new trade conflict between the two countries. US-China trade conflict President Donald Trump caught most people off-guard yesterday, when he announced new tariffs on Canadian aluminium. In a statement after he visited a Whirlpool plant, the president said that the 10% tariff will help protect American jobs. The timing of the announcement was important. It came just a month after the US, Canada, and Mexico signed the USMCA trade agreement to replace the previous NAFTA.