Canada’s Freeland to stay in Washington for NAFTA talks

Alters travel plans to NATO summit Friday

Canada’s Freeland, has announced that she will stay in Washington all day Thursday for NAFTA talks.  

She has scrapped plans to attend the NATO summit on Friday.  This is according to a spokesman.

The USDCAD has been moving higher after finding support buyers against the 200 bar moving average of 4 hour chart and the 100 hour moving average. Those levels come in at 1.2816 and 1.28219 currently.  A move below those levels will be more bearish.

The CAD – prior to the weakness following the BOC meeting last week – was supported on NAFTA news.  The reactions are not as bullish anymore, or non reactive  I wonder if at some point that bias will turn toward the CAD at some point.  We will know by the price action. If the aforementioned MA are broken, that would be a signal of the potential for more bearishness for the pair. Until then, the battle goes on, with the buyers having the edge.