The George Davis Report: December 2019 Edition
Published December 17, 2019
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3 min watch
A monthly video series on the trajectory of the Canadian dollar
In this edition of the George Davis report, George discusses our 2020 economic outlook and forecast revisions, the lingering uncertainty around US/China trade negotiations and layered hedging strategies.
We are forecasting near-trend growth of 1.7% in 2020
The growth profile will be characterized by some weakness in the first half of the year, followed by a firmer second half
The weak November employment report is not a concern at this juncture, as it represents a long-awaited correction from an unsustainable pace
We have pushed out our forecast for a rate cut to Q2 2020 from Q1 2020 previously
We anticipate a smooth policy transition when Bank of Canada Governor Poloz steps down in June 2020
Hedging Strategies:
USD/CAD
This video is part of our monthly George Davis Report series, with ad hoc reports brought to you as current.
© RBC Capital Markets, LLC, RBC Dominion Securities Inc., RBC Europe Limited 2018
George Davis
Chief Technical Strategist, FX Trading, Strategy & Sales, RBC Capital Markets
With over 25 years of market experience, George Davis is responsible for RBC’s Canadian dollar forecasts as well as intermarket technical analysis research that covers the FX, fixed income and commodity asset classes. Prior to this, he was a Vice President on RBC’s spot Canadian dollar and forward foreign exchange desks in Toronto and a foreign exchange Dealer in Montreal.
His technical research has been recognized via seventeen international awards in the FX, fixed income, commodity and emerging markets asset classes. George was also awarded Technical Analyst of the Year five times (in 2010, 2013, 2017, 2018 and 2019) by the Technical Analyst magazine and in 2016 by the Canadian Society of Technical Analysts, in addition to being inducted into the CSTA Hall of Fame in 2017.
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