Citing three sources, Canadian news agency The Global and Mail reported on Sunday that Prime Minister (PM) Justin Trudeau is likely to announce as early as Monday that he will step down as Party Leader. Liberal.
The sources said the timing of Trudeau's announcement is not known but said they expected it to happen before Wednesday's key national caucus meeting.
The three sources said they are not sure what the Liberal Party's national executive plans to do to replace Mr. Trudeau as leader.
However, a fourth source said they believed Mr Trudeau would remain in office until a new leader was chosen.
This comes “as the Prime Minister faces a caucus revolt and dismal public opinion polls that show his party is likely to be swept out of power by Pierre's Conservatives Poilievre in a landslide effect,” the Canadian news agency said.
Market response
USD/CAD showed 0.35% on the day on the following headlines, breaking the 1.4400 level amid renewed strength in the Canadian Dollar (CAD).
Canadian dollar price today
There are changes in the exchange rate of the Canadian dollar today against other digital currencies. The Canadian Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.03% | -0.11% | 0.33% | -0.37% | -0.20% | -0.11% | 0.02% | |
| EUR | 0.03% | -0.08% | 0.34% | -0.27% | -0.13% | -0.03% | 0.09% | |
| GBP | 0.11% | 0.08% | 0.00% | -0.19% | -0.05% | 0.05% | 0.17% | |
| JPY | -0.33% | -0.34% | 0.00% | -0.69% | -0.51% | -0.41% | -0.08% | |
| CAD | 0.37% | 0.27% | 0.19% | 0.69% | 0.09% | 0.22% | 0.37% | |
| AUD | 0.20% | 0.13% | 0.05% | 0.51% | -0.09% | 0.10% | 0.22% | |
| NZD | 0.11% | 0.03% | -0.05% | 0.41% | -0.22% | -0.10% | 0.12% | |
| CHF | -0.02% | -0.09% | -0.17% | 0.08% | -0.37% | -0.22% | -0.12% |
The heat map shows percentage changes of major currencies against each other. The base currency is selected from the left column, while the quote currency is selected from the row above. For example, if you take the Canadian Dollar from the left column and move it on the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base) / USD (quote).
Source: https://www.fxstreet.com/news/canadian-pmi-trudeau-set-to-announce-resignation-before-national-caucus-meeting-on-wednesday-202501060224
