TD Securities with a controversial view:
- “We don’t think that local politics are driving CAD all too much.”
Sheesh ... the jump for CAD was pretty clearly related to the news of Trudeau to resign.
Anyway. More. TD says it remains bearish on CAD, despite Trudeau leaving office:
- “For CAD to benefit from any change in leadership, there needs to be a strong pivot… favoring a more pro-business government”
- “There is no clear path here”
- CAD strength on Monday likely had more to do with markets reassessing risks about the incoming Trump administration’s tariff policy
