The George Davis Report: March 2020 Edition
By
George Davis, CMT
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.
Central bank rate cuts have been undertaken to shore up business and consumer confidence as the coronavirus spreads.
However, the negative market response indicates that a strong dose of fiscal stimulus will be required to support the global economy.
The collapse in crude oil prices will have a substantial impact on the Canadian growth outlook.
The residual impact will be felt across business investment and exports.
We have lowered our CAD forecasts and boosted our expected trading range for USD/CAD in response.
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, 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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