Trudeau wins third term as Canada’s Prime Minister but without a majority – CTV projects
Canadian network CTV’s decision desk projects a win for Justin Trudeau’s Liberal Party, announcing Trudeau as the country’s Prime Minister for the third straight term on Tuesday.
CTV states that Liberals will form a government without a parliamentary majority. The CBC and CTV tallies have the Liberals leading in 125 ridings with 170 needed for a majority.
CBC News also projected a Liberal government, without making a call on whether the party will have enough seats for a majority in parliament, per Bloomberg.
This comes after early results in Quebec and Ontario showed stronger support for the Liberals.
It’s Sept. 20, which means Canadian federal election day has finally arrived
Market reaction
The strength in the Canadian dollar is reflective of a likely Trudeau win in the Federal election, with USD/CAD currently losing 0.28% to trade at 1.2789.
The spot hit a daily low of 1.2777 in the last hour, looking to extend its corrective decline from monthly highs of 1.2895 reached a day before.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
