The CNBC report that a 20% blanket tariff was "less likely" than a tiered system of 3 diffent rates, adn a country by country rate and that chips, pharma and other tariffs would be announced later, seems to have helped. Canada and Mexico tariffs are expected to be lifted.
USDCAD: The price moved from about 1.4403 down to a low of 1.4309. That saw the price move below the 100 and 200-hour MA at 1.4321 to 1.4325. Staying below that would be more bearish. More selling would target the 100 day moving average at 1.4273.. That is also within a swing area between 1.42684 and 1.42789.
US stocks are moving higher and trade at session highs:
Dow industrial average is up 30 points or 0.08% at 42033.99S&P index is up 17 points or 0.31% at 5629.07NASDAQ index is up 111 points or 0.65% at 17413.63The NASDAQ index is looking to snap a four day losing streak.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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