The Canadian dollar continues to fall on Tuesday after the resignation of the country’s Deputy Prime Minister on Monday, in open conflict over the direction of budgetary policy in the face of a possible strengthening of customs taxes towards the United States.
( AFP / NICHOLAS KAMM )
Around 4:50 p.m. GMT (5:50 p.m. in Paris), the Canadian currency fell 0.53% against the greenback, to 1.4319 Canadian dollars, shortly after falling to its lowest since March 2020, at 1.4324 Canadian dollars.
Amid threats from Donald Trump to increase customs duties to 25% with his neighbors, the Deputy Prime Minister of Canada resigned on Monday, due to differences with Prime Minister Justin Trudeau on how to manage the economic war which is emerging with its powerful American ally.
“We found ourselves at odds over the best path forward for Canada,” at a time when the country faces “a great challenge,” Chrystia Freeland, who was also finance minister, wrote in her resignation letter.
“This decision”, which “further weakened Prime Minister Trudeau’s hold on power in Canada”, “triggered a slight decline in the Canadian dollar”, notes Lee Hardman, analyst at MUFG.
Bitcoin, for its part, reached a new record on Tuesday, at $108,315.48.
The most capitalized cryptocurrency continues to ride the wave of enthusiasm caused by the election of pro-crypto Donald Trump.
It also benefits from Friday’s announcement of the upcoming inclusion of a giant of the sector, the software company MicroStrategy Computer, in the Nasdaq 100 index, which corresponds to the 100 largest non-financial companies listed on this New York-based stock exchange. .
However, the company MicroStrategy “has made a fortune buying massive quantities of bitcoins over the past few years”, purchasing the equivalent of $1.5 billion of this crypto last week, underlines Ipek Ozkardeskaya of Swissquote Bank.
For the analyst, “it’s as if bitcoin itself joined the Nasdaq.”
The price of bitcoin and the Canadian dollar will be influenced by the conclusions of the monetary policy meeting of the Federal Reserve (Fed), which opens for two days on Tuesday.
Almost unanimously, analysts project a rate cut of 0.25 percentage points on Wednesday.
Tuesday lessons Monday lessons
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16H50 GMT 22H00 GMT
EUR/USD 1,0503 1,0512
EUR/JPY 161.19 162.04
EUR/CHF 0.9385 0.9401
EUR/GBP 0,8259 0,8288
USD/JPY 153,47 154,15
USD/CHF 0,8935 0,8943
GBP/USD 1,2716 1,2683
