The George Davis Report: September 2021 Edition
By
George Davis, CMT
Published September 7, 2021
|
10 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 some risks that could impact the Canadian dollar into the fall.
USD/CAD suffered another overshoot toward 1.2950 in August, tempered by a more dovish Fed at the Jackson Hole Symposium.
Broad-based USD moves have now supplanted equities as the primary driver of USD/CAD.
Interest rate pricing will present a hurdle for further sustained CAD gains into year end.
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.
We also discuss various federal election scenarios for the Canadian dollar.
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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