TDS
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Canadian Dollar: Labour strength and BoC stance – TD Securities
TD Securities economists Robert Both and Emma Lawrence highlight a strong Canadian labour market, with July employment up 75k and…
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Canadian Dollar: Labour resilience favours CAD against US Dollar – TD Securities
TD Securities strategists expect Canada’s July Jobs Report to confirm ongoing labour market strength, with employment rising another 20k, matching…
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Japanese Yen: Gains against US Dollar to remain limited – TD Securities
TD Securities strategists argue that recent Japanese Ministry of Finance (MoF) interventions and talk of joint United States (US)/Japan action…
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Swiss Franc: Weak performance tied to carry and Gold – TD Securities
TD Securities strategists argue that the Swiss Franc’s (CHF) underperformance since the February 2026 Iran shock reflects both low-yield carry…
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RBNZ: Policy pace and July hike – TD Securities
TD Securities’ Prashant Newnaha expects the Reserve Bank of New Zealand (RBNZ) to raise the Official Cash Rate (OCR) by…
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Canada: Inflation seen firming with energy support – TD Securities
TD Securities strategists expect Canada’s May Consumer Price Index (CPI) to rise, with headline inflation projected at 3.1% year-on-year and…
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United States: Core CPI pressures stay elevated – TD Securities
TD Securities economists Oscar Munoz and Eli Nir expect May US CPI to show moderating but still-elevated core inflation, with…
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Gold: CTA selling triggers and inflation headwinds – TD Securities
TD Securities’ Ryan McKay notes that Gold is struggling to recover as renewed tariffs and US-Iran tensions fuel an inflationary impulse and…
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New Zealand Dollar: RBNZ cycle and consolidation against AUD – TD Securities
TD Securities strategists focus on AUD/NZD after a sharp post-RBNZ selloff. They argue the start of the Reserve Bank of…
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Gold: Macro headwinds cap CTA upside – TD Securities
TD Securities’ Ryan McKay and Bart Melek note that Gold has lagged the broader commodity basket, especially Oil and base…
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