Conservative leader Pierre Poilievre struggled to strike the right chord on that issue and the Liberal Party replaced the unpopular Justin Trudeau with the electable Mark Carney. With that, and a collapse in the left-leaning NDP, the polls have been flipped upside down.
The reversal in fortunes is one of the all-time unexpected swings in western democracies.
If anything, there will be some modest disappointment in CAD if the Liberals win, though I would expect something less than 50 pips in USD/CAD as it should be widely priced in now.
The worst-case scenario for the loonie would be another Liberal government propped up by the NDP and/or Bloc Quebecois. That would stifle Carney's touted agenda to improve building conditions in Canada and extend the bloated bureaucracy.
After the dusk settles, I think the larger ultimate signal for Canadian assets will be how Carney forms cabinet. We still have scant ideas on what he wants to do and if he stacks it with former Trudeau ministers -- particularly in the environment portfolio -- then it could spell trouble.
Most notably though will be how Trump and Carney get along. The early indications are that the 51st state talk isn't going to go away.
This article was written by Adam Button at www.forexlive.com. Read More Details
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