The George Davis Report: September 2020 Edition

By George Davis, CMT
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, 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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