The George Davis Report: September 2020 Edition

By George Davis
Published September 15, 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 prominent CAD drivers, the US election and our forecast revisions.

 

What you need to know

1

USD/CAD has recently moved to a 7-month low.

2

External factors have been behind the CAD strength, as opposed to a domestic story.

3

Risks remain on the horizon in Q4 despite the rebound in economic activity.

4

Examples include mortgage deferrals coming due, the strained Canadian consumer and the upcoming US election.

5

We have lowered our USD/CAD forecast profile to account for price action over the summer.

Hedging Strategies:

USD/CAD

Buyers

1.3000/1.3100

Sellers

1.3400-1.3500

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


George Davis

George Davis
Chief Technical Strategist, Fixed Income, Currencies & Commodities, RBC Capital Markets


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