18.05.2020 USD/CAD Daily Analysis

18.05.2020 USD/CAD Daily Analysis

USD/CAD 1.4072 ,-0.0036 , -0.26% Today the USD/CAD currency pair is trading on 1.4072. The USD has been losing its gains this is because of the friction that is between US and China and the tensions between these two big countries have been increasing especially last week and the investors are actually panicking because the U.S President Donald Trump is likely going to tighten the tensions as the elections in the U.S are coming up soon and he is going to be doing it for his political reasons. The US Retail Sales number fell dismally with almost 16.5 percent as recorded last week on Friday and this shocked almost everyone and every trader now is wondering if USD is still a safe haven since the Federal Chairman actually warned people that they is not going to be a full recovery of the economy since there is no vaccine for the Covid 19 yet.