USD/CAD remains stalled below the 1.3700 area despite the risk-off market

  • The US Dollar features a moderately positive trend against its Canadian counterpart, with technical indicators on bullish ground and the risk-off mood supporting the safe-haven USD, but the pair remains unable to consolidate above the 1,3700 resistance area. Trump has proposed 35% tariffs on Canada, in addition to 30% tariffs on the European Union and Mexico, which would build on the 50% tariffs on Canadian steel and aluminum announced earlier in June.