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USD/CAD trades higher on President Trump's comments on trade conflict with China

CAD - Canadian Dollar

USD/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.

Key Movers

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.

Expected Ranges

USD/CAD: 1.3450 to 1.3525 ▲

EUR/CAD: 1.5035 to 1.5150 ▲

GBP/CAD: 1.7545 to 1.7660 ▼

AUD/CAD: .9369 to .9430 ▲

CAD/NZD: 1.1186 to 1.1241 ▲

EUR/USD: 1.1160 to 1.1203 ▼