Canadian Dollar Hinges on Data and Tariffs: TD Securities
TD Securities analysts have highlighted two key factors that will shape the Canadian dollar's near-term direction: domestic data releases and tariff-related headlines.
The bank points out that these forces are driving the loonie, which is likely to react sharply to inflation figures, employment reports, and any new announcements from the White House or Ottawa on tariffs.
According to TD Securities, the Canadian dollar's vulnerability to swings in risk sentiment makes it essential for traders to stay alert to both economic releases and trade policy developments.
Key data points on the calendar include Canadian GDP, employment numbers, and inflation readings, while tariff headlines remain a wildcard that could trigger immediate moves in the currency.