FX Daily
Strong results from the US 10Y auction pushed yields lower, pulling the USD down slightly and boosting risk assets.
FX Weekly
The CAD’s recovery from the mid-April low stalled last week. Recent market focus has been on resilient US economic data, rising US yields, and the repricing of Fed rate cut risks.
FX Monthly
The USD should be stronger based on short-term yield spreads. Its relative weakness reflects Europe's growth, which hasn't boosted yields due to declining inflation.
Canadian Dollar Forecast, July 2024
Last month, despite some weakness, the greenback was expected to rise, which has now happened with the USD reaching a post-COVID high.
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