The White House confirmed that President Trump and Canadian Prime Minister Trudeau had a conversation regarding tariffs, trade, and fentanyl. This call lasted approximately 50 minutes, with Vance and Lutnick also participating.
According to Canadian sources, further discussions between the US and Canada are scheduled for Wednesday. The USDCAD has declined, approaching its rising 200-hour moving average at 1.43579.
Us Stock Indices Performance
Additionally, US stock indices showed positive performance, with the S&P rising 0.66% and the Nasdaq up 0.86%.
The recent exchange between the two leaders reinforces the focus on trade policies and market conditions, which will remain highly relevant for price movements in the days ahead. Trudeau and Trump addressing tariffs suggests that existing agreements or potential modifications may influence interest among institutional participants.
The decline in USDCAD, now nearing its rising 200-hour moving average, reflects shifting expectations. Price approaching this technical level indicates traders may begin assessing whether a breakout or bounce is likely, depending on follow-up discussions midweek. Should additional guidance emerge from those meetings, it could lead to sharper adjustments.
Meanwhile, US equity markets continued their upward movement, with both the S&P and Nasdaq registering notable gains. A rise of 0.66% for the S&P and 0.86% for the Nasdaq suggests overall sentiment remains oriented towards risk assets despite global trade concerns.
Impact Of Trade Negotiations
Given this mix of trade negotiations, currency movements, and equity performance, maintaining a focus on technical levels and upcoming discussions will be essential. We will closely observe how expectations adjust, particularly if follow-up statements confirm strategic shifts in trade policies.
