Fundamental OverviewThe USD remains on the backfoot as the US data continues to point to resilient growth with falling inflation. Yesterday, we got a good US Retail Sales report suggesting that the stories of deteriorating consumer spending might have been exaggerated. Overall, this should support the soft-landing narrative and be positive for the risk sentiment. The CAD, on the other hand, remains supported against the US Dollar mainly because of the risk-on sentiment. This morning we’ve been seeing even more weakness for the greenback which might be due to the selloff in the USDJPY pair as flows there could have spilled over into other markets. On the monetary policy front, yesterday’s Can
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