The George Davis Report: May 2021 Edition
By
George Davis, CMT
Published May 17, 2021
|
8 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 uses quantitative and technical analysis to put the recent CAD rally in a historical context.
The Canadian dollar is the strongest performing G10 currency against the USD this year.
We dig into our quantitative and technical analysis toolbox to examine the gains in a historical context.
Booming commodity prices and the resulting improvement in Canada’s terms of trade have been positive catalysts for CAD.
Equities, interest rates and the USD are other factors that should be considered and ranked to determine the most important cross asset influences.
Price levels from 2017 and 2015 now feature prominently from a technical perspective for USD buyers.
For the trading range:
USD/CAD
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 nineteen 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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