Procter & Gamble Co. (PG) 加自选

加元兑美元汇率跌至1.4加元，因为越来越多的人押注美联储将在更长时间内保持更高的政策利率，导致美元走强，压倒了加拿大银行发出的任何短暂的鹰派信号。市场在很大程度上将中国央行最近的降息视为已消化，转而转向其依赖数据的指导方针，这缩小了进一步宽松的可能性，推高了国内收益率，但不足以弥补美元的强势。在国内，疲软的宏观背景加剧了压力，第二季度国内生产总值收缩约1.6%，劳动力市场疲软，尽管工资单增长了6万人，失业率接近7.1%，而通货膨胀率仍然居高不下，整体CPI同比约2.4%，央行削减的指标接近3.1%。疲软的大宗商品信号、挥之不去的美加贸易和关税摩擦，以及渥太华向亚洲拓展以实现关系多样化，使外部风险居高不下，并限制了加元的外部支持。

The Canadian dollar weakened toward C$1.4 per US dollar, as a firm US dollar driven by growing bets that the Federal Reserve will keep policy rates higher for longer overwhelmed any short-lived hawkish signals from the Bank of Canada. Markets largely treated the BoC’s recent cut as priced in and shifted instead to its data dependent guidance, which narrowed the odds of further accommodation and pushed domestic yields up but not enough to compensate for the dollar’s strength. At home a weak macro backdrop compounds the pressure with Q2 GDP contracting about 1.6% and the labour market softening despite a one off 60,000 payroll gain that left unemployment near 7.1%, while inflation remains elevated with headline CPI around 2.4% year on year and the Bank’s trimmed measure near 3.1%. Softer commodity signals and lingering US Canada trade and tariff frictions together with Ottawa’s outreach to Asia to diversify ties keep external risks elevated and limit the loonie’s external support.