Canadian Dollar softens mildly in Asian session but remains the third strongest for the week, just behind Sterling and Swiss Franc.
Progress in Canada-US trade talks appears to be positive. Comments from Trump and Canadian Prime Minister Justin Trudeau suggested that the negotiations are on track to complete by the end of the week.
Trump told reporters that “they (Canada) want to be part of the deal, and we gave until Friday and I think we’re probably on track. We’ll see what happens, but in any event, things are working out very well.” That’s an about turn from his recent hostile comments on Canada.
Trudeau also said “there is a possibility of getting there by Friday”. But he also emphasized that it is only a possibility, because it will hinge on whether or not there is ultimately a good deal for Canada.” He reiterated that “no NAFTA deal is better than a bad NAFTA deal.”
Canadian Foreign Minister Chrystia Freeland, staying in Washington, said “our officials are meeting now and will be meeting until very late tonight. Possibly they’ll be meeting all night long”. And, “this is a very intense moment in the negotiations and we’re trying to get a lot of things done very quickly.”
Mexico’s President Enrique Pena Nieto also said in a local radio interview that “I am optimistic that a trilateral deal can be reached… we have from now until Friday for a deal in principle to be announced,”
