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 still growing. The market seems to be taking it as good news as it still expects a soft landing. 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 signals. For the CAD, the next big event will be the CPI report on July 16th. We saw another jump in wage growth in the lates
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