Stocks surged higher in a sudden move after the U.S. said it was delaying China tariffs until December on items including cellphones and some clothing. The U.S. also removed some items from the list of new tariffs outright. President Donald Trump said Tuesday he delayed the tariffs ahead of the Christmas season to avoid potential impact on holiday shopping. He added China would very much like to make a trade deal. Initially equities opened in negative territory, however when Trump’s comments came out markets went to the plus side quickly and decisively, the Canadian dollar rallied to the 1.3185 level but has given back some of its gains, expect further volatility.
Currently Close Range
USDCAD 1.3222 1.3239 1.3185-1.3293
EURCDA 1.4781 1.4847 1.4741-1.4915
GBPCAD 1.5946 1.5987 1.5924-1.6074
US: Consumer Price Index July M/M 0.1% 0.3%
Y/Y 1.6% 1.8%