The week ahead should shed some light on NAFTA negotiations as only bilateral talks have been set up between countries though no meeting announced between US and Canada yet, notes the research team at TD Securities.
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“We continue to think that bilaterism is not in the interest of Canada or Mexico, with both parties still voicing firm support for a trilateral deal. Any signs of progress with Mexico but none between Canada/US leaves CAD vulnerable. The selloff in USTs and firm correlation with USD and global rates spreads suggests that USDCAD should still find supports on dips.”
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