NAFTA Negotiations Ongoing But Not Dead

Talks between the U.S., Canada and Mexico on revamping the North American Free Trade Agreement are continuing but it appears unlikely there’s enough time for the U.S. Congress to vote on a deal before the end of the year, analysts say.“I don’t think they’re going to get a text to Congress at all within the next weeks or even months,” said Laura Dawson, director of the Canada Institute at the Wilson Center in Washington.On Thursday, U.S. Trade Representative Robert Lighthizer said the three nations are “nowhere near close to a deal” and cited major differences on issues ranging from intellectual property to labor rules. He said negotiations would continue. Friday, White House National Economic Council Director Larry Kudlow told reporters “some areas have come together and some have not.” He added, “It’s not dead.”

Source: Here’s what is next for Nafta as U.S., Canada and Mexico fail to strike deal – MarketWatch

EUR/USD – Euro Edges Lower, German Markets Closed for Holiday

A Test of the Breakouts

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.