Democrats and Republicans reached an agreement on the federal budget yesterday, which will help avoid a government shutdown like the one experienced this fall for the next two years. Concessions were made on both sides, with Republicans conceding on automatic budget cuts and Democrats dropping the extension of certain unemployment benefits. The bipartisan effort led by Republican Paul Ryan and Democratic Senator Patty Murray does not resolve every issue, but it is an encouraging sign that the U.S. political system can, with a lot of determination, work properly.
In other news, five U.S. market watch agencies adopted the Volcker rule, which limits proprietary trading carried out by U.S. banks and their subsidiaries. Essentially, banks will now be unable to use customer deposits that have been guaranteed by the government to make risky bets.
It seems that U.S. analysts are already in a holiday mood, as we don’t have any economic indicators on the agenda today. The loonie could take advantage of this break to continue rising against the greenback, a climb that started on Monday. Have a great day! Xavier Villemaire
Range of the day: 1.0560-1.0660
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NBC Daily Forex : December 11, 2013
Published 12/12/2013, 02:20 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : December 11, 2013
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