USD/CAD likes the tone of the tariff talks
USD/CAD is now down more than a cent on the day to 1.3050.
That breaks support from the July low and the 55-day moving average. it's the lowest since June 14.
This saga might not be over just yet. Right now the market is excited about the Senate blocking auto tariffs and talk of a NAFTA deal. The dream scenario for USD/CAD bears would be a NAFTA deal that removes the uncertainty of imports from Canada while imposing auto and others tariffs on other nations. That would be a boon for Canada for as long as it lasts.