Forex News
- EUR/USD rises to near 1.1600 as the US Dollar corrects after a fantastic Friday.
- Fed Chair Warsh warns of upside inflation risks and added that the central bank has work to do to bring it down.
- Inflation in six states of Germany accelerated in August.
The Euro (EUR) is up 0.15% to near 1.1600 against the US Dollar (USD) during the European trading session on Monday. The major currency pair gains as the US Dollar corrects after a strong Friday.
At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.15% lower to near 99.50.
On Friday, the US Dollar gained sharply after comments from Federal Reserve (Fed) Chair Kevin Warsh at the Jackson Hole Symposium where he warned of upside inflation risks.
Fed’s Warsh leans hawkish at Jackson Hole as inflation concerns resurface
Analysts at Rabobank note that Fed Chair Kevin Warsh “appeared to rebuild some of his credibility as an inflation fighter” in his first speech at the annual Jackson Hole Symposium, stressing that the central bank still has “work to do” to return inflation to its 2% target. They argue the tone marked “an important shift from the communication strategy he had followed since taking office,” with Warsh, for the first time as Chair, explicitly voicing dissatisfaction with recent inflation developments and signalling that he was open to further rate hikes unless underlying inflation began to improve convincingly.
As Rabobank highlights, Warsh underscored that “we must be convinced that underlying inflation is moving toward our target clearly and at a sufficient pace. Otherwise, we still have work to do.” In their view, his prepared remarks “seemed designed to lift rate-hike expectations, rebalance the September debate towards the hawks and rebuild his inflation-fighting credibility after July’s ‘all talk, no action’ criticism.” However, they caution that this sets up “a difficult balancing act, as the White House may oppose a hike so close to November’s midterms.”
This led to a sharp repricing of Fed interest rate expectations. According to the CME FedWatch tool, the odds of the Fed leaving interest rates again in the September meeting have diminished to 39.4% from almost 60% seen a week ago.
Meanwhile, financial experts believe that the upcoming Nonfarm Payrolls (NFP) and the inflation data would be key triggers for Fed interest rate expectations.
Even so, Rabobank judges that Warsh “delivered an important signal: the Fed is not relying on tighter financial conditions alone and remains willing to tighten further if underlying inflation stalls.” Against that backdrop, they suggest the next round of data – “especially the 4 September employment report and 11 September CPI” – could prove crucial for the FOMC’s swing voters as they weigh the case for additional tightening.
On the Euro front, inflation data FOR August from six states of Germany has come in higher than its previous readings. This is expected to be supportive of European Central Bank (ECB) interest rate hike expectations.
EUR/USD Technical Analysis
In the daily chart, EUR/USD trades at 1.1598. The pair holds just above the 20-day exponential moving average (EMA) at 1.1592, keeping the near-term bias mildly bullish as price respects this dynamic support. The Relative Strength Index (RSI) at 53.9 is neutral-to-positive, hinting that buying pressure remains in place without reaching overstretched conditions.
On the downside, immediate support is located at the 20-day EMA around 1.1592, and a decisive break beneath this floor would suggest a deeper corrective phase toward lower recent lows. With no notable resistance levels immediately overhead in this dataset, continuation higher would likely depend on whether bulls can maintain price above the EMA, allowing momentum to gradually build while RSI stays in its current constructive range.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
OCBC FX Strategist Sim Moh Siong and Christopher Wong note that stronger Australian Consumer Price Index (CPI) and resilient household spending have revived expectations of another Reserve Bank of Australia (RBA) hike, helping AUD/USD retest resistance near 0.7180–0.7200. They remain constructive on the Australian Dollar (AUD) over the next one to two quarters, but expect gains to fade as inflation moves towards target and RBA shifts away from restrictive policy.
Supportive data but medium-term pullback
"Our base case remains that the RBA has reached the end of its tightening cycle. However, a stronger-than-expected CPI print and resilient household spending have kept the risk of another rate hike alive."
"Following these releases, markets fully priced an additional 25bp hike by end-2026, up from around a 55% probability previously. This repricing has helped AUD/USD retest resistance in the 0.7180-0.7200 range."
"We remain constructive on AUD over the next one to two quarters, supported by its attractive carry and the prospect of further Chinese policy stimulus. While the RBA is likely done tightening, sticky inflation means another hike cannot be ruled out."
"Over the medium term, however, we expect AUD to give back some of its gains as inflation continues to move towards target and the RBA gradually shifts away from a restrictive policy stance."
"Stronger inflation and resilient spending have revived expectations of another RBA hike, supporting AUD. While we remain bullish over the next one to two quarters, easing inflation should eventually shift the RBA away from restrictive policy and cap gains."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- Gold attracts some follow-through selling on Monday amid rising September Fed rate hike bets.
- US-Iran tensions lift crude oil prices and fuel inflation fears, bolstering hawkish Fed expectations.
- The USD struggles to lure buyers, holding back XAU/USD bears from positioning for deeper losses.
Gold (XAU/USD) steadies below the $4,450 level during the first half of the European session, though it remains close to a one-and-a-half-week low, touched earlier this Monday. Traders ramped up bets for an interest rate hike following Federal Reserve (Fed) Chair Kevin Warsh's remarks on Friday, which, in turn, continue to undermine the non-yielding bullion. However, a modest US Dollar (USD) downtick helps the precious metal reverse an intraday dip to sub-$4,400 levels.
Speaking at the Fed’s annual symposium in Jackson Hole, Wyoming, Warsh acknowledged that inflation is running hot and also hinted that interest rates could need to move higher if more progress isn’t made on easing price pressures. Traders were quick to react and are now pricing in around a 60% chance that the US central bank will raise borrowing costs in September. Moreover, CME Group's FedWatch Tool indicates an 88% probability of a December increase, which lifted the USD to a two-week high on Friday and led to an over 3% fall in the Gold price.
The selling bias remains unabated at the start of a new week as escalating US-Iran tensions lift crude oil prices and fuel inflation fears, bolstering hawkish Fed expectations. US forces struck two rocket launchers on Iran’s Larak Island in the Strait of Hormuz on Sunday, the first American strikes on the Islamic Republic since late July, prompting Iran to retaliate by launching ballistic missiles at two US bases in Jordan. Moreover, US Treasury Secretary Scott Bessent said that new secondary sanctions were likely to be unveiled weekly in the effort to pressure Iran.
Despite the supportive fundamental backdrop, the safe-haven USD struggles to attract any follow-through buying amid soft US Treasury bond yields. This, in turn, holds back traders from placing fresh bearish bets on the Gold price and helps limit the downside. Nevertheless, the aforementioned fundamental backdrop seems tilted in favor of USD bulls, suggesting that any recovery in the XAU/USD pair is likely to be sold into. Traders now look to key US macro releases, scheduled for the start of a new month, including the Nonfarm Payrolls (NFP) report on Friday.
XAU/USD 4-hour chart
Technical Analysis
Friday's break below the 100-period Simple Moving Average (SMA) on the 4-hour chart, for the first time since early August, was seen as a key trigger for bearish traders. Moreover, the commodity is now trading below the 38.2% Fibonacci retracement of the rally from late July lows, validating the near-term negative outlook. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator remains deeply negative, while the Relative Strength Index (RSI) sits in oversold territory near 25, hinting at persistent downside pressure even if a short-lived corrective bounce cannot be ruled out.
Hence, a subsequent fall towards the next relevant support at the 50.0% retracement near $4,346.16, ahead of the 61.8% level at $4,263.27, looks like a distinct possibility. A break below the latter would expose deeper structural floors at $4,145.27 and $3,994.96. On the topside, immediate resistance is seen at the 38.2% retracement at $4,429.04, followed by the 100-period SMA around $4,475.07 and the 23.6% Fibo. level near $4,531.59, while the cycle high at $4,697.36 marks a more distant barrier for any sustained recovery.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
BNY’s Geoff Yu expects the Reserve Bank of New Zealand to deliver another 25bp hike to 2.75%, supported by elevated inflation and strong confidence data. Markets will focus on updated macro forecasts and the Official Cash Rate track, with the RBNZ previously projecting 3.0% by Q1 2027 and a gradual rise to 3.3%, while pricing now implies around 3.25% by March 2027.
OCR path to guide Kiwi outlook
"The RBNZ decision on Wednesday provides the most immediate example, with another hike expected as New Zealand confronts inflation above target despite uneven domestic growth."
"That contrasts sharply with economies where policymakers are still trying to preserve momentum or lean more on signs of labor market softening."
"We expect the RBNZ to deliver a second consecutive 25bp rate hike to 2.75%, supported by elevated inflation and a sharp rebound in business and consumer confidence."
"In May, the RBNZ projected the OCR to reach 3.0% by Q1 2027 and gradually rise to 3.3% over the medium term, while markets now price around 3.25% by March 2027."
"Focus will be on the updated macroeconomic forecasts and Official Cash Rate (OCR) track for guidance on the pace of further tightening."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Commerzbank’s Tatha Ghose highlights that recent Polish fiscal and monetary developments are negative for the Polish Zloty. A larger 2027 deficit target, President Nawrocki’s vetoes undermining revenue measures, and accelerating underlying inflation leave little sign of fiscal consolidation while the National Bank of Poland stays cautious rather than hawkish, increasing the Zloty’s risk premium versus other CE3 currencies.
Deficit and politics lift risk premium
"Recent Polish developments turned less favourable for both fiscal and monetary outlooks. The government has adopted a 2027 fiscal deficit ceiling of PLN 282.6bn (expanded from the PLN 271.7bn target for 2026), and implying 7.1% of GDP deficit (original target: 6.8%), which is not much improved at all from the 7.3% of 2025."
"These developments propel the escalation between president and government ahead of next year’s election and naturally impinge on the zloty’s risk premium."
"Moving on to monetary policy, July MPC minutes show that Poland’s National Bank (NBP) held rates because of uncertainties around 1) the Middle East, 2) fiscal policy, 3) ETS2 and 4) droughts."
"The Polish acceleration is proving sharper than in the other CE3 peers, and sharper than NBP and Adam Glapinski are willing to turn hawkish."
"Both sets of developments are negative for the zloty: fiscal policy and the government-president tussle for obvious risk-premium reasons, and monetary policy because NBP will at best stay cautious rather than genuinely hawkish."
"Finance Minister Andrzej Domanski argues that the outcome is only “slightly” worse as a result of adverse shocks such as fuel tax cuts, lack of VAT on SAFE payments and the Middle East shock – but, the broader point is simple: there is hardly any consolidation despite another year of relative macroeconomic calm."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- Euro advances ahead of Germany’s HICP data is set to provide the next directional cues for traders.
- BNY Mellon warns ECB doves face tough odds as upcoming German and Eurozone inflation data signals persistent policy pressure.
- Tensions in the Strait of Hormuz drove up oil prices, strengthening the commodity-linked Canadian Dollar.
EUR/CAD appreciates after two days of losses, trading around 1.6120 during the European hours on Monday. Traders are closely watching for further directional cues from Germany's preliminary Consumer Price Index (CPI) and Harmonized Index of Consumer Prices (HICP) inflation data, set to be released later in the day.
Eurozone rate hike odds surge as inflation data looms
Strategists at BNY Mellon highlight that the policy backdrop is turning increasingly challenging for ECB doves, noting that “the odds are stacked against the doves as the week ahead sees key inflation releases in Germany and the broader Eurozone.” They point out that recent “upside surprises in France and Spain have provided validation for the hawks,” reinforcing the case for further tightening. Reflecting this shift in sentiment, BNY Mellon adds that “OIS markets now suggest a 97% chance of a hike in the September meeting,” underscoring how firmly investors have moved to price in additional ECB action ahead of the upcoming CPI prints.
Eurozone retail sales seen stabilising as ECB enters pre-meeting quiet period
Economists at Rabobank note that Friday’s release of Eurozone retail sales for July is expected to show a modest improvement, with the data “expected to recover from a dip in June.” However, they caution that “the underlying trend remains lacklustre as households face slowing real wage growth,” underscoring persistent pressure on consumer demand. The bank also points to upcoming remarks from the ECB’s Philip Lane in Dublin, but stresses that “since –by then– the ECB’s pre-rate decision quiet period has commenced, he may not address current policy issues,” limiting the scope for fresh policy signals ahead of the next meeting.
Despite potential momentum for the EUR/CAD cross, upside movement may remain capped as the commodity-linked Canadian Dollar gains support from rising crude oil prices. Oil markets surged following statements from Iran's Islamic Revolutionary Guard Corps (IRGC) claiming that a rogue supertanker caught fire in the Strait of Hormuz after striking two naval mines along the waterway's southern passage.
IRGC officials declared that the vessel was attempting an illegal transit through the strait, issued a stern warning, and reiterated that all maritime traffic must strictly adhere to Iranian regulations when navigating the area.
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
- USD/CAD kicks off the new week on a softer note amid a combination of negative factors.
- Rising oil prices underpin the Loonie and weigh on the pair amid a modest USD downtick.
- Reviving September Fed rate hike bets and the US-Canada trade war help limit deeper losses.
The USD/CAD pair pulls back from an over two-week high, around the 1.3910-1.3915 region, earlier this Monday, stalling the recent goodish recovery from a three-month low. Spot prices, however, lack follow-through selling and trade just below the 1.3900 mark during the early European session.
A further escalation of tensions between the US and Iran triggers a fresh leg up in crude oil prices, underpinning the commodity-linked Loonie. The US Dollar (USD), on the other hand, attracts some sellers and erodes a part of Friday's strong move up to a two-week high. These turn out to be key factors acting as a headwind for the USD/CAD pair. However, reviving bets for a rate hike by the US Federal Reserve (Fed), along with geopolitical uncertainties, should help limit losses for the safe-haven USD and the currency pair.
In the latest developments surrounding the Middle East crisis, US forces struck two rocket launchers on Iran’s Larak Island in the Strait of Hormuz on Sunday. This, in turn, prompted Iran to retaliate by launching ballistic missiles on two US bases in Jordan. Moreover, US Treasury Secretary Scott Bessent said that new secondary sanctions were likely to be unveiled weekly in the effort to pressure Iran.
Meanwhile, Fed Chair Kevin Warsh, speaking at the central bank's annual symposium in Jackson Hole, hinted that interest rates could need to move higher if more progress isn’t made on easing price pressures. This comes on top of inflation risks stemming from rising energy prices and lifts market bets that the US central bank will raise borrowing costs in September, which, in turn, favors USD bulls.
Apart from this, the deepening US-Canada trade war could limit any meaningful appreciation for the Canadian Dollar (CAD), warranting some caution before placing aggressive bearish bets on the USD/CAD pair. Traders might also opt to wait on the sidelines ahead of the Bank of Canada (BoC) rate decision on Wednesday and the crucial monthly jobs report from the US and Canada on Friday.
USD/CAD daily chart
Technical Analysis
The USD/CAD pair keeps a bearish near-term tone beneath the 100-day Simple Moving Average (SMA) at 1.3917 and the 38.2% Fibonacci retracement at 1.3922. On the downside, initial support is seen at the 23.6% Fibo. retracement at 1.3847, ahead of the structural floor anchored at 1.3727. On the topside, immediate resistance comes at the 100-day SMA at 1.3917, followed by the 38.2% retracement at 1.3922, with stronger barriers aligning at 1.3982, 1.4043 and 1.4129 before the cycle high near 1.4238.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Canadian Dollar FAQs
The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.
The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.
The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.
While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar.
Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.
Brown Brothers Harriman’s (BBH) Elias Haddad expects the Bank of Canada (BoC) to keep its policy rate unchanged at 2.25% for a seventh straight meeting, as core inflation near 2% allows policymakers to cushion activity against US-Canada trade tensions. Haddad sees current market pricing of 75 bps of BoC hikes over twelve months as too aggressive, implying scope for dovish repricing and USD/CAD moving higher toward 1.4000.
Aggressive hike pricing seen vulnerable
"The Bank of Canada (BoC) is widely expected to keep the policy rate on hold at 2.25% for a seventh consecutive meeting (Wednesday). The worsening US-Canada trade war threatens to derail Canada’s Q2 growth pick-up. Encouragingly, core inflation near 2% gives the BOC room to stand pat and cushion economic activity."
"As such, market pricing 75bps of BoC hikes in the next twelve months look too aggressive, leaving scope for a dovish repricing and USD/CAD higher near 1.4000."
"Remember, the BoC highlighted at its April 29 meeting, that “if the United States imposes significant new trade restrictions on Canada, we may need to cut the policy rate further to support economic growth.”"
"Nevertheless, Canada’s favorable labor market condition argues against a rate cut. Canada’s August labor force survey is due on Friday, and the economy is expected to add +15.0k jobs vs. +75.1k in July with the unemployment rate holding at a two-year low of 6.4%."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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