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US-China Tensions Ease Somewhat, CAD Rallies on Poloz’s Remarks


Risk aversion was tempered yesterday by a report saying that the US and China may be looking towards another round of trade talks. Major EU and US indices still closed in negative territory, but Asian bourses traded mixed today. In the FX world, the Canadian dollar came under buying interest after BoC Governor Poloz said that monetary conditions are “about right”.

US and China Look for Another Round of Trade Talks

The dollar traded higher against most of the other G10 currencies on Thursday and during the Asian morning Friday. It gained the most against CHF, JPY and EUR in that order, while it underperformed only versus SEK and CAD. The greenback traded virtually unchanged against NOK.

The weakening of the safe havens CHF and JPY suggests that market sentiment improved yesterday. However, if we take a look at the equity markets, we see that...

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Source: https://www.jfdbank.com/en/research/us-china-tensions-ease-somewhat-cad-rallies-on-polozs-remarks-20191122
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