Hello,
Three factors impacting Canadian Dollar last week -
1) Upbeat BOC: The Bank of Canada's Business Outlook Survey showed optimism about the economy. They did not hint of rate hike, but the upbeat mood was supportive.
2) Higher oil prices: Prices of both WTI Crude Oil and Brent reached the highest levels since 2014. The tensions around Syria contributed to the move, but the fundamentals of supply and demand are currently favorable for Canada's crucial export.
3) NAFTA is getting closer: A deal on the North American Free Trade Agreement was not reached before the Western Hemisphere Summit in Lima, but all sides remain optimistic. Also, Trump has opened the door to the US re-entering the TPP agreement which includes both Mexico and Canada.
Thanks
Three factors impacting Canadian Dollar last week -
1) Upbeat BOC: The Bank of Canada's Business Outlook Survey showed optimism about the economy. They did not hint of rate hike, but the upbeat mood was supportive.
2) Higher oil prices: Prices of both WTI Crude Oil and Brent reached the highest levels since 2014. The tensions around Syria contributed to the move, but the fundamentals of supply and demand are currently favorable for Canada's crucial export.
3) NAFTA is getting closer: A deal on the North American Free Trade Agreement was not reached before the Western Hemisphere Summit in Lima, but all sides remain optimistic. Also, Trump has opened the door to the US re-entering the TPP agreement which includes both Mexico and Canada.
Thanks
