court markets. On Friday, Fed Chair Janet Yellen confirmed that a gradual tightening of monetary policy is being considered over the next few months. It is worth noting that prior to its first rate hike in December 2015, the Fed had carefully prepared markets, which is leading many observers to think that striking such a tone could be a way to promote a rate increase in June or July. Given this context, the U.S. dollar is continuing to perform well. Last week was the fourth in a row that the greenback gained ground against the other major currencies.
There is good news this morning for Alberta and especially for workers in Fort McMurray: oil giant Suncor has announced its intention to gradually resume production in the region. Thousands of workers should be returning to their jobs in the next few days.
Today is Memorial Day south of the border, meaning little news is expected out of the United States. In Canada, we’ll be keeping an eye on Current Account Balance data.
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