Two sides are increasing their pressure on Canada to join the agreement after they have reached deal. Autos trade, dispute settlement and agriculture are key issues.
“The deal would have to be tweaked should Canada not join” – stated by Mexico’s economy minister. On the other side, Canada’s Foreign minister will be travelling to Washington today in order to continue negotiations. Minister also stated that Canada will only sign the agreement if it is good for Canada.
USD/CAD dropped heavily breaking consecutively the 1.300 and the 1.2965 support levels, with the 1.3000 turning to resistance, as the pair broke once again the 1.2965 level (during Asian session). We could see the pair rise albeit at a slower pace, should the USD strengthen. We could see the pair aiming if not breaching the 1.3000 resistance line and should it be breached, the way may be open for the 1.3047 resistance barrier. On the other side, we could see it breaking the 1.2965 support line once again, aiming for the 1.2925 support hurdle.
