The George Davis Report: September 2022 Edition
By
George Davis, CMT
Published September 15, 2022
|
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 RBC’s latest interest rate forecasts and implications for the Canadian dollar.
Aggressive interest rate hikes by the Bank of Canada have pushed interest rate settings into restrictive territory in a short period of time.
With inflation falling from a near 40-year high of 8.1% in June to 7.6% in July, a peak may be at hand.
However, the BoC’s core inflation measures – a better indicator of underlying inflation pressure – actually increased in July.
RBC Economics has revised their interest rate forecasts in response, culminating with a higher expected terminal rate.
The 1.3170 level remains a critical resistance hurdle to watch in USD/CAD going forward.
For the trading range:
USD/CAD
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 twenty-two international awards in the FX, fixed income, commodity and emerging markets asset classes. George was also awarded Technical Analyst of the Year six times by the Technical Analyst magazine and once by the Canadian Society of Technical Analysts, in addition to being inducted into the CSTA Hall of Fame in 2017. George has a Bachelor of Commerce (Honours) from Concordia University, holds the Chartered Market Technician (CMT) designation and is a Managing Director of RBC Capital Markets.
BoCCADEconomyGeorge DavisInflationInterest RatesMacroMarketRBC Economics