The George Davis Report: March 2023 Edition

By George Davis, CMT
Published March 16, 2023 | 11 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 the fallout in the US banking sector and implications for monetary policy and CAD.


What you need to know:


A brief review of our January overshoot strategy shows that it has performed well this year, based on the rebound that has been seen in USD/CAD into early March.


Upheaval in the US banking sector has reverberated through the various asset classes and caused a massive repricing of central bank policy expectations.


The unforeseen shock to financial markets has also caused some of our cross-asset relationships to break down.


The Fed will now have to decide between financial stability risks and inflation risks at their March meeting, which will set the tone for markets.


We believe that the central bank repricing is overdone, and our forecasts continue to favour a weaker CAD over time.

For the trading range:






George Davis, CMT

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

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