04.05.2020 USD/CAD Daily Analysis

04.05.2020 USD/CAD Daily Analysis

USD/CAD 1.4107 ,+0.0023 ,+0.16% Today USD/CAD currency pair is trading on 1.4107. The U.S. dollar has seen some gains today and there was a buying in European trade today. These gains were influenced by the war that has escalated between China and the U.S  over the origin of the coronavirus. The U.S  officials are putting the blame on China for inventing the virus in their laboratories in Wuhan, therefore, leading to the weakening of the global economy. The Secretary state of the U.S  stated that there was  significant amount of evidence that can be linked to this claim. All these accusations led to trade war tensions between the two nations as Trump threatened to punish China for creating this pandemic. This, therefore, led many investors to buy in USD.