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Loonie Set for Gains After Positive Trade Data | US-China Trade Negotiations Ready to Resume

Published July 4, 2019

  • The US and China are scheduled to resume high-level trade negotiations by phone next week. This is according to White House Economic Advisor Larry Kudlow, who stated yesterday that both parties would be willing to “schedule face-to-face meetings.”
  • The loonie is set for its highest close this year. Trade data released yesterday provides evidence that the economy is firming. The loonie rose as much as 0.3% in early trading and has gained 4.3% against the US dollar this year.
  • Retail trade data for the euro area was released early this morning. The seasonally adjusted volume of retail trade decreased by 0.3% and by 0.4% within the European Union, according to estimates from Eurostat.