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.

 

What you need to know

1

The Fed has started to play catch up to the BoC after their June meeting.

2

The taper discussion has begun, with upside risks to inflation flagged.

3

In addition, the revised dot plot has brought rate hikes forward from 2024 to 2023.

4

The market response has led to a bullish long-term trend reversal in USD/CAD.

5

This points to a shift in sentiment that will alter hedging strategies for USD buyers and sellers alike.

For the trading range:

USD/CAD

Buyers

1.2200/1.2300

Sellers

1.2600/1.2700

This video is part of our monthly George Davis Report series, with ad hoc reports brought to you as current.


George Davis, CMT

George Davis, CMT
Chief Technical Strategist, Fixed Income, Currencies & Commodities, RBC Capital Markets


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