Canada: Tariff removals bring relief – RBC

💡 DMK Insight

The easing of trade tensions between Canada and China could shift market dynamics for commodities, impacting related assets like ADA. For traders, this news matters because it signals potential increases in demand for Canadian agricultural products, which could lead to a stronger Canadian dollar. If the CAD strengthens, it may create downward pressure on USD-denominated assets, including cryptocurrencies like ADA. Watch for how ADA reacts to shifts in CAD strength, especially if it approaches key support or resistance levels. Traders should monitor the correlation between CAD movements and ADA price action over the coming weeks, particularly as economic indicators from both countries are released. However, there’s a flip side: if this de-escalation leads to increased exports but doesn’t translate into immediate economic growth, the anticipated bullish sentiment might not materialize. Keep an eye on broader market sentiment and any geopolitical developments that could re-escalate tensions, as these could quickly reverse any gains. In the short term, watch for ADA to test resistance around $0.30, as a break above could signal a bullish trend fueled by CAD strength.