The George Davis Report: September 2021 Edition

By George Davis, CMT
Published September 7, 2021 | 1 min read

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 some risks that could impact the Canadian dollar into the fall.

 

What you need to know

1

USD/CAD suffered another overshoot toward 1.2950 in August, tempered by a more dovish Fed at the Jackson Hole Symposium.

2

Broad-based USD moves have now supplanted equities as the primary driver of USD/CAD.

3

Interest rate pricing will present a hurdle for further sustained CAD gains into year end.

4

Weaker Q2 GDP growth and a soft July nowcast may present downside risks for the BoC’s near-term growth assumptions and affect their forward guidance.

5

We also discuss various federal election scenarios for the Canadian dollar.

For the trading range:

USD/CAD

Buyers

1.2300/1.2400

Sellers

1.2700/1.2800

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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