The George Davis Report: January 2021 Edition

By George Davis, CMT
Published January 20, 2021 | 5 min watch

A monthly video series on the trajectory of the Canadian dollar

Don’t miss this month’s edition of the George Davis Report, where George discusses the expected economic impact of the second wave of COVID infections.

What you need to know

1

The second wave of COVID infections is starting to impact the economy once again.

2

This is expected to lead to disappointing Q1 growth.

3

However, fiscal stimulus and various support programs should cushion the blow to a degree.

4

Assuming that progress is made on the vaccine front, a much stronger growth profile should be seen from Q2 through Q4 2021.

5

Equity markets remain the primary driver of USD/CAD direction and should be watched closely.

For the trading range:

USD/CAD

Buyers

1.2500/1.2600

Sellers

1.3000/1.3100

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 eighteen international awards in the FX, fixed income, commodity and emerging markets asset classes. George was also awarded Technical Analyst of the Year five times (in 2010, 2013, 2017, 2018 and 2019) by the Technical Analyst magazine and in 2016 by the Canadian Society of Technical Analysts, in addition to being inducted into the CSTA Hall of Fame in 2017.

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