Special Edition George Davis Report: January 2020 Edition

By George Davis, CMT
Published January 21, 2020 | 6 min watch

A monthly video series on the trajectory of the Canadian dollar

In this edition of the George Davis report, George discusses some of the most pressing questions received from clients of RBC Capital Markets Foreign Exchange recently.

What you need to know

1

RBC Economics is monitoring a weaker growth profile for Canada in Q4 2019.

2

However, recent key economic events to kick off the New Year suggest that the BoC will opt to keep rates unchanged at their January 22nd meeting.

3

The increase in geopolitical risks has caused CAD to be more sensitive to moves in oil prices.

4

With USD/CAD trading at the bottom end of a one year trading range, a hedging opportunity is at hand for buyers of USD/CAD.

Hedging Strategies:

USD/CAD

Buyers

1.3000 – 1.3100

Sellers

1.3300 – 1.3400

This video is part of our monthly George Davis Report series, with ad hoc reports brought to you as current.

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.

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