Author: Robert Jessi

The upcoming week will bring a fresh test for major currency pairs as investors return from the US Independence Day holiday and continue to digest weaker US labor market data. The release of the last Federal Open Market Committee (FOMC) minutes and Initial Jobless Claims will test the US Dollar’s (USD) resilience.The US Dollar Index (DXY) trades lower near the 100.90 price zone and is set to finish the week with a 0.50% loss. The Greenback will now focus on a relatively light but important United States (US) calendar. Monday will bring the final S&P Global Services PMI and ISM…

has moved from a rate-differential trade into a policy-risk trade. The more important development is the timing. US markets are shut, liquidity is thin, and Tokyo now has the kind of market backdrop it usually prefers: a stretched USD/JPY and JPY-funded carry-trade positions, a softer-dollar catalyst, and fewer players willing to stand in front of official action. Takeaways Softer payrolls data dents the dollar narrative, but it does not yet force a full repricing of the Fed. The market can still hold onto at least one hike going into the July 14 CPI release. may soften at the edges but…

The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Wednesday as uncertainty surrounding USMCA trade negotiations kept the Canadian Dollar subdued while Sterling awaited comments from Bank of England Governor Andrew Bailey. At the time of writing, GBP/CAD was trading at CA$1.8827, little changed on the day. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.88368 (+0.06%)Euro to Canadian Dollar (EUR/CAD): 1.61838 (-0.2%)Dollar to Canadian Dollar (USD/CAD): 1.42311 (+0.16%) DAILY RECAP: The Canadian Dollar (CAD) struggled to attract support on Wednesday amid renewed uncertainty surrounding the future of the US–Mexico–Canada Agreement (USMCA) on trade. Representatives…

Mark McCormick, chief FX strategist at BMO Capital Markets, joins BNN Bloomberg to discuss how a hawkish U.S. Fed affects the macro backdrop. TORONTO — Canada’s dollar will strengthen less than previously expected over the coming year as uncertain negotiations to revise the Canada-United States-Mexico Agreement (CUSMA) weigh on the domestic economy, reducing the prospects of interest rate hikes from the Bank of Canada, a Reuters poll showed.The median forecast of 39 foreign exchange analysts in a June 26 to July 1 poll expected the Canadian dollar to gain 1.3 per cent to 1.40 per U.S. dollar, or 71.43 U.S.…

A finfluencer is simply a financial influencer, a contraction similar to my own “findependence” for financial independence. And while I’m tooting my own horn here, let me disclose that I am myself considered to be a finfluencer, at least here in Canada. I say that following a Toronto gathering of many of Canada’s top finfluencers organized by BMO ETFs in early June at Cboe Canada. The Creator Insights Forum featured a scrolling highlight reel of leading content creators, including yours truly. The forum brought financial content creators together to acknowledge the growing influence of their voices and the role they play…

Summit Royalties completes acquisition of Star Royalties

Canada’s financial services sector continues to swim on the tide of technology. While banks have long embraced digital channels, 2026 marks a turning point where two technology-driven trends are moving from pilot projects and policy discussions into large-scale implementation: Artificial intelligence (AI) and consumer-driven banking, which is often referred to as open banking. For a few years, Canada lagged behind countries such as the U.K. and Australia in implementing open banking. That is now changing as the federal government’s consumer-driven banking framework rolls out during 2026, giving Canadians greater control over their financial data and allowing them to securely share…

USD Yesterday delivered the downside payroll surprise that topped the risks we had flagged for this week. June nonfarm payrolls rose just 57k against consensus estimates for a 113k increase, with May revised down from 172k to 129k. Unemployment slipped from 4.3% to 4.2%, but participation fell three tenths to 61.5%, flattering the headline, while average hourly earnings rose 0.3% MoM, as expected. As we wrote in yesterday’s reaction, this dented the building rate hike narrative: July tightening odds were cut to below 20%, with a full increase pushed back from October to December, albeit this remains too aggressive against…

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock. Even before the signing of a preliminary peace agreement, most economic indicators suggested that the US economy was weathering the conflict far better than many economists had feared.The conflict has reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown. Yet, most of the key indicators released since…

The USD/CAD pair struggles to capitalize on the previous day’s modest bounce from a nearly two-week low and turns lower for the second straight day following a modest Asian session uptick to the 1.4200 neighborhood. Spot prices remain close to the overnight swing low, around mid-1.1400s, and seem poised to register losses for the first time in five weeks.The US Dollar (USD) remains depressed near a two-week low, touched in reaction to softer US jobs data on Wednesday, and turns out to be a key factor exerting pressure on the USD/CAD pair. Traders trimmed their bets for interest rate hikes…