Stock market falls as investors are worried about the threat of Russian further invasion into Ukraine

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

US Dollar             1.2700-1.2800

Euro                     1.4400-1.4500

Sterling                1.7200-1.7300

The US Dollar index is higher this morning as the rhetoric surrounding Ukraine continues to grow and appears to be coming to a head with a possible invasion of Ukraine by Russia set for this week. Overnight stock markets are all lower and the Dow Jones is already pointing a little lower on the opening so it is going to be a tough day on the markets. The commodity markets are all higher as well, oil has reached a high of $94.90 a barrel before pulling back a little earlier this morning, this big jump in the oil price will only push the world's Central Banks to act faster and harder when it comes to fighting inflation which will keep the US Dollar well supported.

The Loonie is weaker this morning as are most currencies, USD.CAD hit a high near 1.2780 (0.7825) overnight before pulling back a little in the early hours of the morning. The overall strength of the US Dollar was too much for the Canadian Dollar to take advantage of the higher oil price, if the invasion happens this week then you will see the oil price trade well over $100 a barrel and stocks get crushed.

Nothing on the calendar for today, Stocks should have a tough day if the overnight markets are anything to consider, the Dollar will remain supported and the Loonie should trade a little weaker.