Lutnick: If Canada addresses flow of fentanyl into the US, there will be no tariffs

Commerce Secretary nominee Lutnick:

• If Canada addresses the flow of fentanyl into the US, there will be no tariffs.

Some other commetns:

• The 25% tariff threat is about the border, and can be avoided if Trump is satisfied with Canada’s actions
• Broader tariffs may still be coming though
• Canada’s dairy sector is in Trump’s crosshairs for USMCA talks

There you have it, though you would much rather hear that from Trump than Lutnick, who often differs from his deputies.

The USDCAD has reached new lows to 1.4432 and moves away from swing area on the topside between 1.4448 and 1.4466. On the downside the 100 and 200-hour moving averages comes in at 1.4380 and 1.4385 respectively.

This article was written by Greg Michalowski at www.forexlive.com.