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U.S./China meeting today at the Whitehouse, markets see this as upbeat news

By MoneyWay | Feb 22, 2019

The Canadian dollar is stronger to the USD on the news that President Donald Trump will meet with China’s top trade negotiator Friday afternoon in Washington as the U.S. tries to forge a preliminary deal with its biggest economic rival before tariffs on some Chinese imports more than double next month. Plans for a meeting between Trump and Liu signal optimism that talks are making sufficient progress to warrant another face-to-face meeting between the two men. China is proposing that it could buy an additional $30 billion a year of U.S. agricultural products including soybeans, corn and wheat as part of a possible trade deal, according to people with knowledge of the plan.          

Markets generally have reacted to this news in a positive manner, equities are up, as well as commodities such as oil  and industrial metals like copper, commodity based currencies, like the CAD are better too.

Currently             Close                     Range

USDCAD               1.3181                   1.3232                   1.3174-1.3242   

EURCAD               1.4948                   1.4998                   1.4937-1.5011

GBPCAD               1.7225                   1.7258                   1.7137-1.7267

                                                                                Prior                      Actual

CA:   Retail Sales December M/M              -0.9%                     -0.1%

                                                       Y/Y                  0.5%                     1.7%

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