This weekend was full of ups and downs on the international scene. The conflict in Syria appears to have taken a turn in the right direction, with Bashar al-Assad's regime agreeing to the Russian-American plan developed last week. This takes some of the tension out of the situation, but the final outcome of the civil war that has dragged on for two and a half years remains very much in doubt.
In the United States, Larry Summers, who was the hands-on favourite to succeed current Fed Chairman Ben Bernanke, has withdrawn from the race. Summers stated that a long and acrimonious confirmation process would not be in the country's best interest. At first glance, markets appear to be reacting positively to the news, with the S&P500 jumping close to 1% on the futures market.
This morning, we await the publication of the Empire manufacturing index from the United States. The market expects a reading of the index at 9.10 for the month of September, up from 8.24 in August. A reading on the rise would add to the recent spate of good economic news south of the border and would support the greenback. Have a good day! Xavier Villemaire
Range of the day: 1.0275-1.0360 
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NBC Daily Forex : September 16, 2013
Published 09/17/2013, 02:25 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : September 16, 2013
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