川普總統週二發表的保護主義言詞有點軟化，推升了加元與墨西哥披索。過去幾天，川普的關稅談話使得該二貨幣受到壓力，因墨西哥與加拿大出口大量鋼與鋁至美國。
週一，川普總統透過推文表示，除非公平的北美自由貿易協定 (NAFTA) 能夠達成，否則加拿大與墨西哥亦無法免除關稅。投資人認為這顯示，川普有意利用關稅做為修改貿易協定的策略，美國本週不太可能實施鋼與鋁的進口關稅。
Canada Finance Minister Morneau says Canada will be firm in its response to US steel tariffs if necessary
The BoC may sound more cautious this time around as U.S. President Donald Trump unveils a 25% tariff on imported steel and a 10% tariff on imported aluminum, and the accompanying statement may trigger a bearish reaction in the Canadian dollar if the central bank shows a greater willingness to carry the current policy into the second-half of 2018.
But the ongoing renegotiations of NAFTA combined with the intensification of protectionist rhetoric from the Trump administration gives the BOC ample reason to suggest it will remain neutral for the foreseeable future. Coming into today, rate hike odds for a second hike in the first half of 2018 have fallen to 60%. There may be further room for weakness in the CAD-crosses should these odds fall further.
But the ongoing renegotiations of NAFTA combined with the intensification of protectionist rhetoric from the Trump administration gives the BOC ample reason to suggest it will remain neutral for the foreseeable future. Coming into today, rate hike odds for a second hike in the first half of 2018 have fallen to 60%. There may be further room for weakness in the CAD-crosses should these odds fall further.
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