# Buy the Canadian Dollar and Sell the US Dollar say CIBC as NAFTA Hopes Rise

> Strategists at two large Canadian banks, CIBC among them, recommend buying the Canadian dollar against the U.S. dollar as NAFTA renegotiation progresses. They see USD/CAD downside of around 2.5%. Negotiators reportedly aim for an agreement in principle around the Summit of the Americas.

- Date: 2018-04-09 · published 2018-04-09T12:00:00.000Z
- Category: trade · region Canada · magnitude low
- Page: https://feedsoft.ai/events/65747-buy-the-canadian-dollar-and-sell-the-us-dollar-say-cibc-as-nafta-hopes-rise
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A NAFTA deal would reduce uncertainty for Canadian and Mexican trade flows in grains, oilseeds and meals, which supports regional export demand and a firmer loonie.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/cad/8846-buy-the-canadian-dollar-and-sell-the-us-dollar-say-cibc-as-nafta-hopes-rise

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.