Loonie and peso drop after US Democratic Official demands changes to USMCA

New Jersey Democrat, Rep. Bill Pascrell’s comments that the USMCA agreement can’t pass Congress in its current version drove the peso and loonie lower in early trade in New York.  Pascrell, who is expected to chair the House Ways and Means Trade subcommittee stated “If he wants a Democratic votes they need to be not only changes in the legislation but more enforcement.”

 

 

 

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Ed Moya

Ed Moya

Senior Market Analyst at OANDA
With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏
Ed Moya