I spoke with BNNBloomberg on Thursday about the risks around the White House’s April 2nd planned announcement on global reciprocal tariffs, something I wrote about here.
I also dove deeper into the Bank of Canada decision:
- People are overlooking the survey data they released.
- It was highly unusual to publish a survey along with the
decision - The survey is the message and it shows 40% planning to
decrease employment and 48% capital expenditure
Broadly, I’m still upbeat on on the Canadian dollar from here because I don’t think tariffs will (or can) last.
- Trump is
saying tariffs and annexation but the loonie isn’t falling, that’s the message - If you
listen to what Trump’s deputies are saying, they are still highlighting fentanyl,
which I expect they will pivot away at month end - White House
Economic Advisor Kevin Hassett said it was a good time to get bullish in Canada and Mexico - Congress
has been relatively quiet, which I believe is short-term deference, likely only
until month end - I continue
to believe that they’re asking to renegotiate USMCA sooner, though Canada is
hardly in a position to agree to that because an election call is imminent
Watch it here:
This article was written by Adam Button at www.forexlive.com.
#Video #April #2nd #watershed #markets #Forexlive
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