Canadian Dollar Surges Despite Uncertain Trade Deal with US

The Canadian dollar is poised to end the week with a gain of around 1.32% due to a combination of factors, despite reports suggesting Canada may have taken a beating in trade negotiations with the US.

US Treasury intervention in the long bond market has weighed on the greenback, with the US government debt now above $40 trillion and concerns about the country's fiscal position growing.

A potential deal between Canada and the US appears to be in sight, but it may not be a favorable one for Canadian workers. According to reports, Canada would escape a 50% auto tariff, but instead face a 15% levy while US vehicles remain exempt.