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April 03, 2018
Yesterday funds traded higher as equities melted down and ran into some pretty good selling interest between 1.2920-50. This morning the picture is much rosier for CAD and MXN as equities steady on talk about a preliminary NAFTA deal as early as next week at the Summit of the Americas. Apparently President Trump is pushing for the deal (maybe he is getting a bit concerned over the impact his trade policies are having on the equity market?) and would be a big positive for the Canadian Dollar and would probably send USDCAD down toward the 50/100/200 day moving averages at 1.2718/1.2692/1.2638 - but it’s still a big if for now...

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