Insights | The Harbour Group of RBC Dominion Securities

The Harbour Group insights

Read the macro investment strategy and asset allocation thinking behind your portfolio, penned by our in-house market strategist, Robin Gullason.

RBC insights

Discover the latest articles from thought leaders across our organization on everything from estate planning to philanthropy.

What Is Powering the Loonie's Flight?

April 25, 2025 |Robin Gullason

The Canadian dollar has rallied nicely against the U.S. dollar so far to start the year, increasing purchasing power for investors. This is more a story of U.S. dollar weakness than Canadian dollar strength, with the loonie ahead of only its commodity-currency...

The New Great Game: How the race for critical minerals is shaping tech supremacy

April 16, 2025 |Shaz Merwat

Key takeaways Canada and the U.S. are each other’s largest minerals trading partner, amounting to $146 billion in bilateral trade1. The U.S. is 100% import reliant for 12 of its identified list of 50 critical minerals, and net import reliant (>50%) for...

A Spring of Reprieve?

April 11, 2025 |Robin Gullason

Less than a week after “Liberation Day”, the U.S. administration has put a 90-day pause on many of its most damaging tariffs, ex-China. Equity markets reacted enthusiastically, with the S&P 500 putting up its third largest single-day rally since WW2....

Navigating the Impact of U.S. Tariffs on Canada

April 04, 2025 |RBC Wealth Management Canada

The End of the Beginning (of the Trade War)

April 03, 2025 |Robin Gullason

The tariff levels announced on April 2 are worse than most feared and if they are sustained at these levels for a long period of time, the U.S. economy is at risk. The U.S. Treasury Secretary has suggested this is the ceiling so long as there is no retaliation...

Turning the Tables: How Canada can shake off the U.S. softwood lumber dispute and grow the sector

March 28, 2025 |Ajay Nandalall

Canada’s intractable softwood lumber dispute with the U.S. has long cast a shadow over the country’s promising forestry sector. However, reimagining its potential, building a value-added industry, and seeking new markets could be the playbook that Canada...

Canada’s housing market retreats amid trade war

March 19, 2025 |Robert Hogue

The threat of U.S. tariffs has become top of mind for those considering buying or selling a home in Canada. Concerns about the significant damage that hefty tariffs would inflict on the economy prompted many buyers and sellers to hit pause in February—leading...

Video: Bank of Canada cuts interest rate to 2.75% as U.S. trade tensions persist

March 13, 2025 |Josh Nye

The Bank of Canada lowered its benchmark interest rate again in March, this time to 2.75% from 3%.

Predictably Unpredictable

March 11, 2025 |Robin Gullason

This title applies both to the nature of markets and to that of the current U.S. administration. The initial focus on tariffs instead of tax cuts has disappointed markets and they are registering that displeasure the only way they know how – lower prices...

What is the impact of tariffs on the U.S. economy?

March 06, 2025 |Mike Reid and Carrie Freestone

The effective U.S. tariff rate is now at its highest level since the 1940s after U.S. President Donald Trump signed an executive order to impose 25% tariffs on Canada and Mexico on March 4. A new order was also signed for China, increasing tariffs to...