Fundamental OverviewThe USD weakened across the board last Friday following the soft US NFP report. The data showed some more labour market cooling with an increase in the unemployment rate and a decrease in wage growth. We basically have an economy that is slowing but growing. We will see if the market will be able to keep the positive sentiment on soft landing hopes or start to worry about a recession. All eyes will now be on the US CPI and US Jobless Claims figures on Thursday. The CAD, on the other hand, gained last week against the US Dollar mainly because of the risk-on sentiment as the US data continued to support at least two rate cuts from the Fed but didn’t send recessionary signal
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