USD/CAD edges lower as Canada tries to close trade deal with Trump
USD/CAD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
ING | Bullish | 1.33 |
Rabobank | Bullish | 1.36 |
Bank of America | Bullish | 1.35 |
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Reports continue to highlight ongoing meetings between top negotiators from Canada and the United States ahead of an August 19 tariff deadline. CBC today reports that Canada-U.S. Trade Minister Dominic LeBlanc and his American counterpart "are aiming to present U.S. President Don
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The current disarray in US-Canada trade negotiations is likely to maintain a bearish outlook for the Canadian dollar against the US dollar in the near term. President Trump's abrupt cancellation of discussions, primarily triggered by political advertisements from Ontario, signals a complex landscape for trade relations. Per the full note from UBS, the absence of specific policy reversals makes a swift resolution less likely, potentially amplifying volatility in FX markets as uncertainty grows. While markets may show restraint initially, the implications for upcoming discussions with China could surface, influencing broader market sentiment, particularly in the CAD/USD pair.