Don’t miss this month’s edition of the George Davis Report, where George discusses a shift by the Fed and the implications for the Canadian dollar.
What you need to know
1
The Fed has started to play catch up to the BoC after their June meeting.
2
The taper discussion has begun, with upside risks to inflation flagged.
3
In addition, the revised dot plot has brought rate hikes forward from 2024 to 2023.
4
The market response has led to a bullish long-term trend reversal in USD/CAD.
5
This points to a shift in sentiment that will alter hedging strategies for USD buyers and sellers alike.
For the trading range:
USD/CAD
Buyers
1.2200/1.2300
Sellers
1.2600/1.2700
This video is part of our monthly George Davis Report series, with ad hoc reports brought to you as current.