CANADA: Carney: Talked w/Trump, Situation Around Bridge Will Be Sorted Out

Feb-10 15:01

Reuters reports comments from PM Mark Carney, saying that he has talked to US President Donald Trump this morning. Carney says the two had a "wide-ranging conversation", and the situation around the soon-to-be-opened Gordie Howe Bridge, linking Michigan and Ontario, "will be sorted out". Carney says that he told Trump the bridge has been paid for by Canada. 

  • In a Truth Social post on 9 Feb, Trump threatened he "will not allow this bridge to open until the United States is fully compensated for everything we have given them, and also, importantly, Canada treats the United States with the Fairness and Respect that we deserve", claiming that the lack of US materiels used in its construction meant Canada was "taking advantage" of the US.
  • CBC notes that "The CAD6.4 billion cost of the Gordie Howe bridge has been entirely funded by Canada's federal government, but the bridge is under the public joint ownership of Canada and the state of Michigan."
  • Carney is heading to Germany on Wednesday, 11 Feb, for the Munich Security Conference over the weekend. It is likely that he will hold talks with US Secretary of State Marco Rubio, who is also speaking at the event. It remains to be seen if the two seek to repair ties, or if Carney delivers another thinly-veiled criticism of Trump's foreign policy actions and worldview as he did at the World Economic Forum meeting in Davos in January. 

Historical bullets

AUSSIE 3-YEAR TECHS: (H6) Recovery Mode

Jan-10 22:45
  • RES 3: 97.796 - 1.618 proj of the Sep 3 - 12 - 15 price swing
  • RES 2: 96.780 - High Jun 26 (cont)
  • RES 1: 96.700 - High Sep 12  
  • PRICE: 95.890 @ 16:40 GMT Jan 9
  • SUP 1: 95.740 - Low Dec 22
  • SUP 2: 95.480 - Low 1st Nov ‘23
  • SUP 3: 94.932 - 1.0% 10-dma envelope

Prices bounced again Thursday, supported by strength in global bond markets and a smoother inflation picture at the December CPI print. As such, prices edged further away from recent lows. Nonetheless, slower pricing for additional RBA easing - and partial pricing for a return to rate hikes in 2026 - should keep the front-end of the curve under pressure. This keeps prices well below prior resistance at 96.615, the Sep 12 high, and refocuses attention on 95.480 as the next major support. 

MNI: MNI TEST 02, Please Ignore

Jan-09 23:36

Test Test TEST

MNI: MNI Test, Please Ignore

Jan-09 23:30

Test, ignore