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BlockBeats News, March 5th — Strategists at TD Securities pointed out in a report that unless Friday’s US non-farm payroll report shows significantly weak performance, it is unlikely to have much impact on the US dollar. They stated that US economic data may take a back seat, with market focus shifting to the Middle East conflict and its potential impact on the Federal Reserve’s ability to cut rates this year. The strategists said: "You need to see a much worse report, with the unemployment rate rising, in order for the market to refocus on this week’s non-farm payroll data and reverse recent price trends." They believe that, given the US’s energy independence and the diminished prospects for rate cuts, if oil prices remain high, the US dollar should stay strong.

BlockBeats News, March 5, strategists at TD Securities pointed out in a report that unless Friday's US non-farm payroll report is significantly weak, it is unlikely to have much impact on the US dollar. They stated that US economic data may become secondary, with the market focus shifting to the Middle East conflict and its potential impact on the Federal Reserve's ability to cut rates this year. The strategists said: "You need to see a much worse report, with a rise in the unemployment rate, to get the market to refocus on this week's non-farm data and reverse recent price trends." They believe that given the US's energy independence and the reduced prospects for rate cuts, if oil prices remain high, the US dollar should stay strong.

Golden Ten Data reported on March 5th that strategists at TD Securities believe the market seems to underestimate the risk of rate cuts in Canada in 2026, as well as the potential strength of tightening policies in 2027. They stated that the Canadian economy is currently engaged in a tug-of-war between two opposing narratives: on one hand, the prolonged negotiations of the USMCA (United States-Mexico-Canada Agreement) have intensified concerns about the health of the economy, which are often exaggerated; on the other hand, the recent surge in energy prices has provided some emotional offset. The drag caused by trade uncertainty and the transmission effects of high oil prices may play a role in the Bank of Canada's deliberations over the coming months. However, TD Securities ultimately pointed out that the outlook for domestic household and government spending will be the most important determining factor. If the output gap fails to narrow this year, the likelihood of rate cuts will increase.