Frannel_Franco

Forex Fundamental News of The Day #forex

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Today the US dollar has gained strength against commodity currencies such as AUD, NZD, CAD, and risk currency EURO , although not against JPY, GBP

Japan is still the strong currency of moment as investors seek that safe haven asset

The Canadian dollar keeps on dropping (sold) against all majors and crosses even though ADP Nonfarm Employment change has shown an increase in today's report.
This has been mainly due to Trump's trade policies that may hurt the Canadian economy, since US is their major trading partner.
Today Trump tweeted (hence the continued decline) "We do have a Trade Deficit with Canada, as we do with almost all countries (some of them massive). P.M. Justin Trudeau of Canada, a very good guy, doesn’t like saying that Canada has a Surplus vs. the U.S.(negotiating), but they do...they almost all do...and that’s how I know!"

Swiss National Bank leaves their monetary policy unchanged, and its selloff continues as money leaves the safe haven asset to the next safe haven, which has been the Japanese Yen
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