The Canadian dollar (CAD) is one of the stronger G-10 currencies today following the federal elections in Canada held on April 28. The CAD initially weakened after the preliminary election results, which showed the minority Liberal Party in the lead. The volatility stemmed from increased political instability in Canada. However, the CAD later stabilized and began to strengthen. Currently, USDCAD is gaining just 0.02%, trimming the earlier gains to 0.36%.
The Liberal Party, led by Mark Carney, claimed victory but secured only a mandate to form a minority government. This result was nonetheless surprising, as earlier polls had favored the Conservative Party. The campaign was largely shaped by external factors, especially U.S. President Donald Trump’s aggressive trade policy — including tariffs and annexation threats — which dominated the campaign discourse. Carney, a former central banker with a strong financial background, effectively capitalized on these issues, portraying the Liberals as a bulwark against U.S. economic intimidation. His rhetoric on defending Canada’s sovereignty and taking a firm stance resonated with voters, leading to a late surge in Liberal support. However, the minority government status means the Liberals will have to rely on other parties, such as the NDP or Bloc Québécois, to pass legislation.
In his victory speech, Carney declared that Canada would not be “broken” under U.S. pressure, signaling a hardline approach toward Trump’s tariffs and annexation rhetoric. This contrasts with the Conservatives, who might have taken a more conciliatory tone. Carney’s strategy appears to prioritize national sovereignty and economic independence, which may lead to escalating tensions with the USA.
Source: xStation 5
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
