Trump has let his feelings be felt to Congress in that he wants the direct payments to Americans to go from $600 to $2000, the Democrats are happy with this, it’s the Republicans who are left looking like the bad guys. If Trump vetoes the bill, Congress could reconvene after Christmas to override it. The measure got through both chambers with veto-proof majorities. Lawmakers have already planned for the possibility of returning if the president vetoes a national defense bill.
The main problem with the bill is the sheer size of the bill, it’s 5,593 pages long, who has the ability to read all of it before they sign on the dotted line. It’s bad enough when you sign for a mortgage.
The Canadian dollar is a bit better, this morning’s GDP was good, it’s the sixth month in a row of being positive, showing that there are still signs of life in the Canadian economy.
The USDCAD has already moved on the GDP news and likely range trade the rest of the day.
Currently Close Range
USDCAD 1.2840 1.2907 1.2835-1.2914
EURCAD 1.5657 1.5696 1.5666-1.5719
GBPCAD 1.7333 1.7244 1.7237-1.7435
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