- The USD/CAD faces challenges due to a risk appetite, driven by the news that the US is reducing its objectives in the tariff agreement.
- Traders will probably evaluate US employment data to obtain new perspectives on the Fed interest rates in July.
- Kevin Hasett, White House Advisor, said that the US would begin commercial conversations after Canada suspended the imposition of a Digital Services Tax on the USA.
The USD/CAD moves shortly after registering losses of more than half a percentage point in the previous session, quoting around 1,3600 during the first European hours on Tuesday. The torque could be further depreciated amid an improved market feeling, promoted by the news that the main commercial officials of US President Donald Trump are reducing their objectives for comprehensive reciprocal agreements with commercial partners.
The Financial Times cited four people familiar with the discussions, saying that US officials were looking for agreements in phases with the most committed countries while they rushed to reach an agreement before the deadline of July 9, when Trump had promised to reimpose their most severe tariffs, according to the Financial Times.
The USD/COD faced challenges since the US dollar (USD) remains content in the middle of a growing uncertainty about the Federal Reserve Perspectives (Fed) and a growing fiscal concern in the United States (USA). In addition, traders adopt caution before a broad bill of taxes and expenses that are currently being considered in the Senate, which could add 3.3 billion dollars to national debt.
On Tuesday, the data managers index (PMI) of the US ISM manufacturing (June) will be published on June. The attention will move to the US non -agricultural payroll (NFP), which will be published later in the week, to obtain a new impetus on the Fed monetary policy position for the July decision.
Canada suspended its plans to collect a new tax on digital services aimed at the US technology companies. Just hours before this began on Monday, to advance the commercial negotiations stagnant with the United States. On the other hand, the Economic Advisor of the White House, Kevin Hasett, said that the US would immediately begin commercial conversations with Canada.
Canadian dollar today
The lower table shows the change percentage of the Canadian dollar (CAD) compared to the main currencies today. Canadian dollar was the strongest currency in front of the euro.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | -0.16% | -0.56% | -0.02% | -0.07% | -0.22% | -0.29% | |
| EUR | -0.05% | -0.21% | -0.71% | -0.07% | -0.03% | -0.28% | -0.33% | |
| GBP | 0.16% | 0.21% | -0.37% | 0.16% | 0.18% | -0.06% | -0.12% | |
| JPY | 0.56% | 0.71% | 0.37% | 0.57% | 0.47% | 0.32% | 0.27% | |
| CAD | 0.02% | 0.07% | -0.16% | -0.57% | -0.06% | -0.23% | -0.27% | |
| Aud | 0.07% | 0.03% | -0.18% | -0.47% | 0.06% | -0.24% | -0.33% | |
| NZD | 0.22% | 0.28% | 0.06% | -0.32% | 0.23% | 0.24% | -0.06% | |
| CHF | 0.29% | 0.33% | 0.12% | -0.27% | 0.27% | 0.33% | 0.06% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Canadian dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the CAD (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
