Market Watch – June 15, 2018
Big Picture By Bill Curry
Loonie Suffering From G7 Summit Fallout
Heated anti-Canada rhetoric from the Trump Administration following the G7 Summit has many Canadian business leaders concerned about the impact of the brewing trade war with the U.S.
One victim of Trump’s tough talk has been the loonie, which edged lower against its U.S. counterpart on Thursday. In addition to U.S. tariffs and stalled NAFTA negotiations, the loonie has also been weighed down by Italy’s decision not to ratify the EU free-trade agreement with Canada, citing insufficient protection for Italy’s specialty foods.