TD remain bearish on CAD

TD Securities with a controversial view:

• “We don’t think that local politics are driving CAD all too much.”

Sheesh … the jump for CAD was pretty clearly related to the news of Trudeau to resign.

Anyway. More. TD says it remains bearish on CAD, despite Trudeau leaving office:

• “For CAD to benefit from any change in leadership, there needs to be a strong pivot… favoring a more pro-business government”
• “There is no clear path here”
• CAD strength on Monday likely had more to do with markets reassessing risks about the incoming Trump administration’s tariff policy

This article was written by Eamonn Sheridan at www.forexlive.com.