USD/CAD has crept higher since the North American open but that only brings it to flat on the day at 1.3997. The loonie is a modest underperformer today with AUD and NZD up on positive sentiment around global growth via the US-China deal.
Trump said today that he won't talk with Carney for a "long time" but the market isn't buying it. It's also not clear what tariffs on Canada will rise by 10% as the White House hasn't made it clear.
The market sees it all as bluster and fluff with a deal coming eventually. Carney today said a deal was close before Trump blew it up. There is a playbook where Trump likes to leave deals at the altar before making up after getting some concession.
Notably, Carney will meet with Xi at the APEC Summit.
USD/CAD 10 mins
