Latest news with #JayatiBharadwaj
Business Recorder
11-08-2025
- Business
- Business Recorder
Canadian dollar clings to weekly gain
TORONTO: The Canadian dollar steadied against its US counterpart on Friday, holding on to a modest weekly gain, after softer-than-expected domestic jobs data that had only limited impact on expectations for Bank of Canada interest rate cuts. The loonie was trading nearly unchanged at 1.3745 per US dollar, or 72.75 US cents, after moving in a range of 1.3726 to 1.3762. For the week, the currency was up 0.3%. The Canadian economy shed 40,800 jobs in July, giving back some of the substantial gains seen in the prior month and sending the share of people employed in the population to an eight-month low. Economists expected a gain of 13,500 jobs. 'We are still weeks away from the next (BoC) meeting with more key data in between, which should limit the market reaction,' strategists at TD Securities, including Jayati Bharadwaj, said in a note. 'The trade deal with the US remains the big risk on the horizon, but we do not think that it will be a ground-breaking factor for the economy or for the BoC when the majority of exports are USMCA-compliant, and more and more exporters continue to register as such every month.' About 92% of Canadian exports by value entered the US market on a tariff-free basis in June under the US-Mexico-Canada Agreement. Investors see a 38% chance that the Canadian central bank will lower its benchmark rate from the current level of 2.75% in its September 17 policy announcement, up from 33% before the jobs data. Stocks on Wall Street moved higher and the US dollar fell against a basket of major currencies as President Donald Trump's pick to serve out the final few months of a newly vacant Federal Reserve governor's seat bolstered expectations for rate cuts by the US central bank.
Mint
08-08-2025
- Business
- Mint
Canadian dollar clings to weekly gain as rate-cut bets edge up after jobs data
* Canadian dollar trades in a range of 1.3726 to 1.3762 * The loonie on track to add 0.3% for the week * Canada's economy sheds 40,800 jobs in July * Canada-US 10-year yield spread widens by 6.6 basis points By Fergal Smith TORONTO, - The Canadian dollar steadied against its U.S. counterpart on Friday, holding on to a modest weekly gain, after softer-than-expected domestic jobs data that had only limited impact on expectations for Bank of Canada interest rate cuts. The loonie was trading nearly unchanged at 1.3745 per U.S. dollar, or 72.75 U.S. cents, after moving in a range of 1.3726 to 1.3762. For the week, the currency was up 0.3%. The Canadian economy shed 40,800 jobs in July, giving back some of the substantial gains seen in the prior month and sending the share of people employed in the population to an eight-month low. Economists expected a gain of 13,500 jobs. "We are still weeks away from the next meeting with more key data in between, which should limit the market reaction," strategists at TD Securities, including Jayati Bharadwaj, said in a note. "The trade deal with the U.S. remains the big risk on the horizon, but we do not think that it will be a ground-breaking factor for the economy or for the BoC when the majority of exports are USMCA-compliant, and more and more exporters continue to register as such every month." About 92% of Canadian exports by value entered the U.S. market on a tariff-free basis in June under the U.S.-Mexico-Canada Agreement. Investors see a 38% chance that the Canadian central bank will lower its benchmark rate from the current level of 2.75% in its September 17 policy announcement, up from 33% before the jobs data. Stocks on Wall Street moved higher and the U.S. dollar fell against a basket of major currencies as President Donald Trump's pick to serve out the final few months of a newly vacant Federal Reserve governor's seat bolstered expectations for rate cuts by the U.S. central bank. Canadian bond yields eased across the curve. The 10-year was down 2.5 basis points at 3.377%, while it fell 6.6 basis points further below the U.S. equivalent to a gap of about 91 basis points. This article was generated from an automated news agency feed without modifications to text.
Yahoo
08-08-2025
- Business
- Yahoo
Canadian dollar clings to weekly gain as rate-cut bets edge up after jobs data
By Fergal Smith TORONTO (Reuters) -The Canadian dollar steadied against its U.S. counterpart on Friday, holding on to a modest weekly gain, after softer-than-expected domestic jobs data that had only limited impact on expectations for Bank of Canada interest rate cuts. The loonie was trading nearly unchanged at 1.3745 per U.S. dollar, or 72.75 U.S. cents, after moving in a range of 1.3726 to 1.3762. For the week, the currency was up 0.3%. The Canadian economy shed 40,800 jobs in July, giving back some of the substantial gains seen in the prior month and sending the share of people employed in the population to an eight-month low. Economists expected a gain of 13,500 jobs. "We are still weeks away from the next (BoC) meeting with more key data in between, which should limit the market reaction," strategists at TD Securities, including Jayati Bharadwaj, said in a note. "The trade deal with the U.S. remains the big risk on the horizon, but we do not think that it will be a ground-breaking factor for the economy or for the BoC when the majority of exports are USMCA-compliant, and more and more exporters continue to register as such every month." About 92% of Canadian exports by value entered the U.S. market on a tariff-free basis in June under the U.S.-Mexico-Canada Agreement. Investors see a 38% chance that the Canadian central bank will lower its benchmark rate from the current level of 2.75% in its September 17 policy announcement, up from 33% before the jobs data. Stocks on Wall Street moved higher and the U.S. dollar fell against a basket of major currencies as President Donald Trump's pick to serve out the final few months of a newly vacant Federal Reserve governor's seat bolstered expectations for rate cuts by the U.S. central bank. Canadian bond yields eased across the curve. The 10-year was down 2.5 basis points at 3.377%, while it fell 6.6 basis points further below the U.S. equivalent to a gap of about 91 basis points. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27-06-2025
- Business
- Bloomberg
Dollar's Next Risk Is Canadian Pension Fund Hedging, TD Says
The US dollar is poised to tumble further as Canadian investors — among the largest holders of American stocks — face pressure to raise their currency hedges against the greenback, according to TD Securities. 'The loss of the dollar's safety appeal since the start of the year has increased the need for these funds to hedge their long US asset exposure,' a TD Securities team including Jayati Bharadwaj, Mark McCormick and Linda Cheng wrote in a Friday report. More losses for the US currency 'will give Canadian investors a greater push to adapt their hedging policies which can create further downward pressure on the cross.'
Bloomberg
12-06-2025
- Business
- Bloomberg
US Economy Has Been 'Relying on Kindness of Strangers' For 3 Years
Jayati Bharadwaj, FX and macro strategist at TD Securities, breaks down why the US Dollar has remained weak, even as other economic indicators are strong amid Trump's trade war. (Source: Bloomberg)
