Both CAD and USD seem to be lifted by news regarding NAFTA as American traders get up in the morning. Bloomberg reported, citing unnamed sources, that Trump is pushing for a preliminary NAFTA deal to be announced next week. That would likely happen at the Summit of the Americas in Peru on April 13.
For now the story is not verified by other media yet. But it’s believed that Mexican Economy Minister Ildefonso Guajardo will meet with US Trade Representative Robert Lighthizer on Wednesday. Canadian Foreign Minister Chrystia Freeland will also meet Lighthizer on Thursday. White House trade advisor Peter Navarro also said on Monday that it’s realistic to wrap up NAFTA in two weeks.
In any case, we’ll likely have something more concrete in the coming days.
