Canadian Data Crushed by Monster Data Disappointment

The Canadian dollar was crushed by worse than expected domestic data on Friday, and it hasn’t recovered. The October 20 release of August Retail Sales and the September inflation report disappointed markets and sent traders scrambling to sell Canadian dollars. External events were also putting downward pressure on the Canadian dollar.  The US dollar rallied steadily throughout last week, supported

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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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