Moody’s says that Canada and Bahrain are the top losers from US tariffs

Some comments via Moody’s from a special report

  • Sees risk of ‘marked deterioration’ in trade relations
  • Asia is vulnerable to trade slowdown once US tariffs take effect

More woes for Canada? It’s something that was highlighted here yesterday as well.
The loonie has been the weakest performing major currency so far this year, weighed down by NAFTA talks largely and the latest development here doesn’t make things any better in the sense that it serves to complicate NAFTA talks even more.
Although USD/CAD surrendered most of its gains as the dollar weakened towards the end of trading yesterday, technically it still looks the case that we will be seeing a test of 1.2917 soon.

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