Forex
Home›Forex›Major Pairs›TD Securities expects CAD to stay supported by balance…
TD Securities expects CAD to stay supported by balanced growth
TD Securities projects Canadian real GDP to rise 0.2% month over month in May, helped by manufacturing, existing home sales and retail trade, while June growth is expected to cool after a strong start to Q2.
TD Securities expects the Canadian dollar to remain supported by data pointing to balanced growth across goods and services. In a note cited by FXStreet, strategists project Canadian real GDP to increase 0.2% month over month in May, above the flash estimate, and extending April’s 0.5% gain.
The firm links the outlook to strength in the labor market and says multiple sectors are contributing, including manufacturing, existing home sales, and retail trade. It also expects June GDP to moderate after a strong start to the second quarter.
FXStreet frames the broader setup as reflecting macro fundamentals alongside near-term market crosscurrents, while noting other moves in major FX pairs during the same session. In its market wrap, it highlights USD gains supported by safe-haven demand and attention to upcoming US data, including the Michigan Consumer Sentiment Index.