Canadian Dollar Under Threat of Terminating NAFTA

President Donald Trump undermined the Canadian dollar in overnight trading.  At a rally in Wyoming, the President repeated his disdain for the North American Free Trade Agreement, suggesting that the United States could not make a new deal without terminating the old agreement first. USDCAD rose to 1.2596, in part because of the Trump comments, fully reversing yesterday’s USDCAD losses

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Canadian Dollar Bias is Negative

The Canadian dollar bias is negative.  The Canadian dollar is being undermined by a variety of influences including: 1)    Positioning:  The speculator community is still substantially long CAD/short US dollars 2)    Oil Prices:   WTI oil cannot sustain gains above $50.00/barrels.  Traders believe that prices within a $47.00-$50.00/barrel range are reflected in the current price. 3)    Bank of Canada: Some traders

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