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The USD/CAD pair jumped to 1.4170 after Trump threatened new 25% tariffs on goods from Mexico and Canada and an extra 10% on China. The move came after the pair had already rallied more than 1.4% in a single session.
The article notes that the pair has traded above 1.4100 only during past periods of market turbulence.
Tariff threats on Mexico, Canada and China could disrupt trade in agricultural and feed commodities and shift demand toward alternative suppliers. A stronger dollar against these currencies raises the cost of US exports to these markets.
investing.comAlexander KuptsikevichNov 26, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 40 past bullish trade events, Chinese Yuan (CNY per USD) moved a median +0.6% over 5 sessions (75% higher; middle half +0.0% to +1.4%), and +1.1% over 20.
After 45 past bullish trade events, US Dollar (Broad) moved a median -0.0% over 5 sessions (42% higher; middle half -0.3% to +0.4%), and -0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
