By Krishna Kumar — Jan 30 - 05:17 PM
• USD/CAD +0.4% Thu as Trump says he will hit Canada, Mexico with 25% tariffs
• Trump repeats warning to the 2 countries which are top U.S. trade partners
• CAD erases gains made after Trump commerce nominee's earlier comments
• U.S. commerce nominee Lutnick had said Canada, Mexico can avoid tariffs
• USD/CAD rallies from 1.4415 to 1.4596, highest since March 2020
• Retraces to 1.4475 before rallying back to 1.4495
• Support 1.4470, 38.2% of 1.4262-1.4596 rally, followed by 1.4430,
• Resistance 1.4550, 1.4595-1.4600; Thursday range 1.43945-1.4596
CAD:
America's biggest trade partners face a nervy wait as Trump tariffs loom:
(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters