Can someone dumb down what effects the recent US/China tariffs “deal” does for the USD. I would have thought this was a positive sign for the US and for China (and indirectly AUD pairs), but my USDCAD long trade is getting blown out of the water. What am I missing? Oil prices going up, which, all things being equal, is more positive for CAD, than a dragged-out trade/tariff war with China?
Oil prices of varying flavor all jumped, some as high as 5+%, per this article:
USDCAD didn’t hit any all time highs last week and we aren’t near any psychological resistance. I know the US China “deal” isn’t fleshed out, so literally anything can happen, good or bad, but it still appears as a positive sign.
Help a newb understand.