The George Davis Report: July 2020 Edition
By
George Davis, CMT
Published July 7, 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 some of the risks for the Canadian dollar through the summer months.
The sharp recovery in equity markets implies that a lot of good news is already priced into recovery expectations.
The risk pendulum may have shifted in this regard, making markets more vulnerable to negative surprises.
The recent Fitch downgrade of Canada’s sovereign debt rating is an example of this.
Our unemployment forecast suggests that a slower demand recovery could present some risks in H2 2020.
Other risks include rollbacks in re-openings and a second round of infections.
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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