OANDA Market Beat Podcast is a discussion of upcoming market news macro analysis and economic indicator releases that will impact currencies, stocks and other asset classes with OANDA's Senior Market Analyst, Alfonso Esparza.
The US dollar is higher across the board versus majors as North American markets rejoin activity after the Labour day holiday.
Efforts were made by American and Canadian diplomats to reach an agreement by the arbitrary Friday deadline, but big issues remained unresolved.
US President Trump made comments on Saturday that could end up derailing the agreement as both teams restart negotiations on Wednesday on the back foot.
In a week that had a busy trade agenda, Canada joining the US-Mexico agreement would have been a major win but is now raising more concerns.
Emerging markets fell as the US dollar was the definitive safe haven destination as questions arose on how sustainable is global growth with more trade barriers.
Trade fears are also behind the decision from Bank of England (BoE) Governor Mark Carney to extend his term to make sure the English economy is in a steady state after Brexit.