During his speech yesterday, Dennis Lockhart, President and CEO of the Atlanta Reserve, mentioned that a rate increase was entirely possible before the end of 2015. His comments, which are in line with the comments made by other Fed officials during the weekend, drove the greenback close to its highest level since the start of the month. For its part, the loonie was also impacted: after making important gains last Thursday and Friday, the CAD this morning is floating in the upper portion of the range for the past two months. There are few economic indicators slated for today. Of note is the USD Richmond Fed Manufacturing Index to be released at 10:00 a.m. The reading is forecast to increase slightly for September at 2, compared to a reading of 0 for August. In geopolitical news, we will be monitoring the visit of the Chinese President Xi Jinping to the U.S., which will kick off today in Seattle.
Have a good day! Xavier Villemaire
- Range of the day: 1.3220 - 1.3320