• US Jobs: -23,000 (July), below forecast of +100,000
• Unemployment: 4.1% (lowest since June 2025)
• Fed Rate Hike Odds: Down to ~45% for September
• CAD/USD: 0.7175 (+0.54%)

The Checkup

Global trade and currency markets are caught in a perfect storm of tariff deadlines, central bank uncertainty, and shifting geopolitical risks. The US labor market's unexpected contraction—23,000 jobs lost in July—has scrambled Federal Reserve calculations, with September...