U.S. equities sank on Tuesday after President Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election. Markets hit the lows of their day after Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods notwithstanding recent efforts at a “phase one” trade truce. Trump has also announced that he would impose new tariffs against France based on a U.S. government investigation that found a new digital services tax in France would harm U.S. technology companies. France said it would retaliate if such duties were imposed. Trump wants to impose duties of up to 100% on champagne, handbags , cheese and other French products.
The Canadian dollar is a bit stronger to the USD, however it’s still well within the recent ranges and will likely stay that way this week.
Currently Close Range
USDCAD 1.3298 1.3308 1.3283-1.3321
EURCAD 1.4744 1.4745 1.4721-1.4759
GBPCAD 1.7288 1.7222 1.7201-1.7322