Carney: Had a meeting with Trump on the future of steel and auto sectors

[Forex News]

Canadian and US deputies continue to meeting in Washington and yesterday hinted that they were close to a deal. Canada has been angling for relief on steel and aluminum while dangling energy (Keystone XL was proposed again) and hoping to get some certainty on autos.

There are some interesting market moves today. Cleveland-Cliffs shares are up nearly 10% and the company has a notably-large steel mill in Canada. Aluminum giant, which produces 75% of its North American aluminum in Canada, is also up 3.5%.

There is clearly some anticipation (leak?) of a deal here. I wouldn't think the announcement of a deal on just steel and aluminum would move the loonie much but it certainly wouldn't hurt. In terms of Canadian equity markets, they're higher today led by gold, silver and base metals producers, which are soaring.

This article was written by Adam Button at investinglive.com.

More...