The George Davis Report: December 2021 Edition
By
George Davis, CMT
Published December 17, 2021
|
9 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 RBC’s 2022 economic forecasts and the BoC’s new 5-year mandate.
2022 economic growth is expected to remain above trend thanks to a resilient Canadian consumer.
Labour shortages and supply chain disruptions will keep inflation above the BoC’s 2.0% target next year.
While the BoC’s new mandate now includes an employment component, inflation will remain the overriding focus for the time being.
The market is pricing in a more aggressive profile than the 3 rate hikes that RBC expects from the BoC next year.
Our 2022 forecast profile for USD/CAD is more neutral compared to 2021’s bullish profile, with topside risks.
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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