The George Davis Report: June 2021 Edition
By
George Davis, CMT
Published June 15, 2021
|
6 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 rebound from third wave COVID restrictions.
Third wave COVID restrictions have caused a moderation in economic growth.
This has had minimal impact on CAD as the BoC’s taper contrasts with a more dovish Fed.
Vaccination progress and deployment of elevated consumer savings are expected to prompt a strong rebound in growth in H2 2021.
This should set the stage for another round of tapering from the Bank of Canada.
The Fed is expected to play catch up to the BoC later this year, lending some support to the USD as interest rate expectations are re-rated.
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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