USD weaker as fears of U.S.-China relations may sour

By MoneyWay | Nov 18, 2019

Wall Street’s main indexes eased from record levels on Monday after a report stoked fresh fears about a resolution to the U.S.-China trade dispute that has hit global growth and roiled financial markets over the past 16 months. Investors had turned optimistic over the weekend after Chinese state media said the two sides had held “constructive” trade talks, days after White House economic adviser Larry Kudlow said they were getting close to a trade deal. Global stocks were lifted earlier by a surprise cut in a key interest rate by China for the first time in more than four years.

Meanwhile the Canadian dollar is stronger to the USD even as oil prices have fallen over 1.6% this morning, oil prices have fallen due to the trade talks and are likely to stay around these levels in the near term.

Currently             Close                     Range

USDCAD               1.3205                   1.3223                   1.3206-1.3235

EURCAD               1.4631                   1.4615                   1.4606-1.4655

GBPCAD               1.7115                   1.7056                   1.7068-1.7159

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