The George Davis Report: April 2022 Edition
By
George Davis, CMT
Published April 20, 2022
|
9 min watch
A monthly video series on the trajectory of the Canadian dollar
Don’t miss this month’s edition of the George Davis Report, where George discusses RBC Economics’ latest forecast revisions and the expected impact on the Canadian dollar.
Canadian economic growth is expected to transition from a strong pace in 2022 to below potential growth in 2023.
Inflation is forecast to peak in Q2 2022 but remain above the Bank of Canada’s 2% target through 2023.
A more aggressive policy response will be required from the Bank of Canada in order to keep broadening near-term price pressures under control and prevent longer-term inflation expectations from de-anchoring.
The Russia-Ukraine conflict will have more of an impact on inflation than a direct hit to growth in Canada.
Overly aggressive market pricing of Fed and BoC rate expectations leaves CAD vulnerable should a re-pricing take place.
For the trading range:
USD/CAD
George Davis, CMT
Chief Technical Strategist, Fixed Income, Currencies & Commodities, RBC Capital Markets
With over 30 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 twenty-two international awards in the FX, fixed income, commodity and emerging markets asset classes. George was also awarded Technical Analyst of the Year six times by the Technical Analyst magazine and once by the Canadian Society of Technical Analysts, in addition to being inducted into the CSTA Hall of Fame in 2017. George has a Bachelor of Commerce (Honours) from Concordia University, holds the Chartered Market Technician (CMT) designation and is a Managing Director of RBC Capital Markets.
CADEconomyGeorge DavisInflationMarketsRussiaUkraine
