Trump reshaping Canada’s election and Loonie
Six weeks ago, a Conservative victory in the next Canadian election seemed inevitable.
Now, that certainty is fading. Conservative leader Pierre Poilievre's support from the American right, including Elon Musk, is becoming a potential liability as Canada faces an unprecedented challenge: the U.S. president openly questioning its viability as a nation, threatening tariffs, and even suggesting annexation.
A recent Nanos poll shows 39.6% of Canadians see new Liberal leader Mark Carney as the most qualified to negotiate with Trump, compared to 26% for Poilievre.
This uncertainty may be weighing on the Canadian dollar. USDCAD broke lower last week, falling below key support (1.4260 - 1.4466), signaling a shift toward sellers. However, the 1-hour chart shows a minor upward trendline defining the current pullback.
Now, that certainty is fading. Conservative leader Pierre Poilievre's support from the American right, including Elon Musk, is becoming a potential liability as Canada faces an unprecedented challenge: the U.S. president openly questioning its viability as a nation, threatening tariffs, and even suggesting annexation.
A recent Nanos poll shows 39.6% of Canadians see new Liberal leader Mark Carney as the most qualified to negotiate with Trump, compared to 26% for Poilievre.
This uncertainty may be weighing on the Canadian dollar. USDCAD broke lower last week, falling below key support (1.4260 - 1.4466), signaling a shift toward sellers. However, the 1-hour chart shows a minor upward trendline defining the current pullback.
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Economic Calendar:
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Free TradingView Premium:
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Economic Calendar:
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blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.