Daily Currency Update
CAD - Canadian DollarUSD/CAD is trading higher towards 1.35 on President Donald Trump's comments over the weekend on the trade conflict with China. In his twitter thread, Trump said that tariffs on Chinese goods are set to increase to 25 percent from 10 percent on Friday and that he would not let China renegotiate the deal. Concerns over a long lasting trade war are also impacting the price of oil today, putting further pressure on the Loonie.
Bank of Canada Governor Stephen Poloz will speak today at 1:45 pm EST. Looking ahead this week, we're also see Canadian Trade Balance on Thursday and employment data on Friday.