The Canadian dollar is a bit better to the USD as House Democrats and the Trump administration have reached an agreement to move forward with the White House’s replacement for the North American Free Trade Agreement, top Democrats said Tuesday. The two sides had worked for more than a year to resolve Democratic concerns about enforcement tools for labor and environmental standards under the new deal, known as the United States-Mexico-Canada Agreement. House Democrats, President Donald Trump, top Senate Republicans and labor leaders all cited progress toward a deal this week.
The Canadian dollar remains basically unchanged, however, once USMCA has truly ratified then expect a bit of optimism but nothing dramatic as markets have already built the signing as a done deal.
Currently Close Range
USDCAD 1.3225 1.3239 1.3225-1.3250
EURCAD 1.4666 1.4648 1.4639-1.4685
GBPCAD 1.7432 1.7406 1.7371-1.7463