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Trump vs Trudeau – place your bets

13/03/2018

The US Dollar has been gaining ground steadily against its Canadian counterpart (USDCAD), and now has the 1.2920 barrier within reach. This should present formidable resistance, and therein lies the potential for a breach. Historically traders will try and Short the perceived top of the range, usually with a fairly tight Stop Loss. If breached, there will be a surge of panic-buying and program trading that could propel it higher very quickly, turning the former resistance level into a firm support base. The catalyst for this will probably be related to the ongoing sabre-rattling around U.S. steel and aluminium imports, although the truth is both parties have a lot to lose, and anyway the real signal being sent here is not to Ottawa, but to Beijing. However with President Trump flexing his trade muscles Justin Trudeau is looking more like a cardboard cut-out than ever, and despite being the housewives favourite in Canada, he hasn’t been able to parlay that faint praise into anything resembling statesmanship. He does have nice hair though,

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