Critical of Canada in comments

The USDCAD has moved to new session highs after US NAFTA negotiator criticized Canada.

Lighthizer said:

  • Canada has made massive attack on US trade laws
  • Canada auto idea opposite of what we want
  • Canada idea on auto rules may be counterproductive

The USDCAD moved above the 100 hour MA at 1.2351 to a high of 1.2361, but has since moved back lower and trades at 1.2348. A move back above the 100 hour MA should be more supportive.

Canada's Freeland is now adding her two-cents.

She says:

  • pleased with progress in NAFTA talks
  • says trade with US is close to balanced
  • says US benefits from Canada's energy exports
  • NAFTA must be improved
  • Our job isn't to dismantle regional supply chains
  • US has made unprecedented proposals for NAFTA
  • candidate seeks innovative compromise for NAFTA
  • Wants new auto rules that will draw investment
  • Wants a rigourous 5-year NAFTA review
  • made good progress on telecommunications, technical barrier to trade, sanitary measures
  • ready to talk about negotiated settlement on softwood lumber any time