BMO Capital Markets senior economist Robert Kavcic remarked on the tough pressure on the Canadian dollar, attributing it to worries from both domestic economic factors and new threats from potential tariffs, stating: "It's a pretty stiff headwind against the currency that's already been under pressure just from domestic economic factors." He emphasized how the Canadian dollar was already experiencing difficulties before Trump's tariffs were mentioned, indicating a precarious economic situation.
Karl Schamotta from Corpay highlighted the uncertainty surrounding Trump's tariff threats, saying that investors are not convinced he will actually implement them. He pointed out the interaction between Canadian Prime Minister Justin Trudeau and Trump, suggesting, "Canadian Prime Minister (Justin) Trudeau has already shown signs of capitulating to Trump's demands... this post simply represented an opening gambit in the negotiation process." This indicates a broader political context to the economic situation.
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