Canadian Dollar: Tariff delay offers only muted relief – Commerzbank
Michael Pfister at Commerzbank reports that new 50% US tariffs on selected Canadian goods have been delayed by three days as an agreement is reportedly close, prompting only a modest Canadian Dollar (CAD) rebound amid uncertainty over the deal’s durability.
Commerzbank analyst Michael Pfister reports that the US has delayed new 50% tariffs on selected Canadian goods by three days, following an apparent agreement nearing completion. This partial tariff reprieve prompted a modest rebound in the Canadian Dollar (CAD), but market participants remain uncertain about the deal's future and potential form.
The Canadian dollar's relief reaction was relatively muted, given the lingering concerns over the durability of the agreement. Even if an agreement is eventually made, the coming weeks will likely focus on the robustness of the deal, as the current slow recovery of Canada's real economy could persist.
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