15.05.2020 USD/CAD Daily Analysis

15.05.2020 USD/CAD Daily Analysis

USD/CAD -0.9731,-0.0005,-0.06 Today the currency pair USD/CAD is trading on  -0.9731 .U.S. dollar lost some of its overnight gains in early European trade today but remains in favor as risk aversion still dominates, amid rising Sino-U.S. tensions. The reason why it lost some of its gains is that Trump stirred again the tensions between U.S and China when he had an interview with Fox Business  Network where he told them that he is still disappointed with China's failure to contain the corona virus and he even mentioned that he is planning to cut the business relationship between the two countries but this move is likely going to risk the economy, especially in the Agriculture sector if China pulls out of the Trading.