Market Eyes on NIVIDIA: AI Giant's Earnings Set to Shake Markets and USD

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar        1.3425-1.3525

Euro                 1.4950-1.4850

Sterling            1.7750-1.7850

WTI Oil (opening level) $73.70

The US Dollar index is marginally stronger this morning in a quiet overnight session. From everything I read there appears to be one event today that will dictate where the market goes and that is the financial report from NIVIDIA who is the world's largest company and maker of AI computer chips, at last check this company has a value of over $3 Trillion dollars and has been dominating the stock exchange for some time now. Market insiders are predicting that the stock value could move by over 10% today in either direction depending on the company results, either way it will move the stock markets and could drag the US Dollar along with it.

The Canadian Dollar is marginally stronger this morning and it has picked up some strength despite a big drop in the price of commodities overnight. In particular the oil price has dropped over $3 a barrel so for the Loonie to strengthen in such an environment is definitely a positive for our Dollar. USD.CAD opens the day near the 1.3460 (0.7429) level so we will see if it can extend its gains.

The calendar is quiet today but will get set for tomorrow's US GDP report, as mentioned all market eyes today will be looking at NIVIDIA's results before any direction will be determined.