The George Davis Report: July 2021 Edition
By
George Davis, CMT
Published July 19, 2021
|
7 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 a shift by the Fed and the implications for the Canadian dollar.
The Fed has started to play catch up to the BoC after their June meeting.
The taper discussion has begun, with upside risks to inflation flagged.
In addition, the revised dot plot has brought rate hikes forward from 2024 to 2023.
The market response has led to a bullish long-term trend reversal in USD/CAD.
This points to a shift in sentiment that will alter hedging strategies for USD buyers and sellers alike.
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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