The George Davis Report: March 2020 Edition

By George Davis
Published March 13, 2020 | 5 min watch

A monthly video series on the trajectory of the Canadian dollar

In this edition of the George Davis report, George discusses the economic impact of the Coronavirus and the fall in oil prices. 

 

What you need to know

1

Central bank rate cuts have been undertaken to shore up business and consumer confidence as the coronavirus spreads.

2

However, the negative market response indicates that a strong dose of fiscal stimulus will be required to support the global economy.

3

The collapse in crude oil prices will have a substantial impact on the Canadian growth outlook.

4

The residual impact will be felt across business investment and exports.

5

We have lowered our CAD forecasts and boosted our expected trading range for USD/CAD in response.

Hedging Strategies:

USD/CAD

Buyers

1.3400 – 1.3500

Sellers

1.3900 – 1.4000

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

George Davis
Chief Technical Strategist, FX Trading, Strategy & Sales, RBC Capital Markets


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