A positive CAD story will compete for some of the spotlight next year and here’s three reasons why… 1 USD is set to peak mid-2019 Our Global Head of Strategy Chris Turner sees a bearish dollar narrative developing throughout 2019 as US rates end their highs and US growth converges lower to the rest of the world - expect investors to move out of US asset markets (see our FX outlook for an in-depth peak dollar analysis). 2 Swap differentials shouldn’t see USD strength US-Canada swap differentials, particularly on the two-year part, are closely related to USD/CAD movements. Swap differentials between two countries are ... (full story)