Currency and stock markets remain volatile as the situation at the Ukraine-Russia border remains violent

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 marginally weaker this morning but that is only after Ukrainian President Zelensky announced Feb 16th as the possible day of the Russian invasion. The Government quickly walked back those comments but that was after stocks had taken a big tumble, the US Dollar jumped and a barrel of West Texas Intermediate Oil hit a high over $95 a barrel. Since the comments were walked back and the Russian Government announced that some troops on the Ukrainian border were heading back to base stocks have jumped higher, commodity prices have dropped quite a bit and the Greenback has stabilized. We will see if the concessions offered by Ukraine will bring an end to this situation.

The Canadian Dollar continues to move in the 1.2700 to 1.2800 range, after a tough ride higher yesterday USD.CAD opens the day back down near the 1.2725 (0.7858) level so all-in-all the Canadian Dollar is not doing that bad at the moment. The opening of the Ambassador bridge will bring trade back to normal levels so the Loonie should shake off any damage done to the economy. hopefully the other border closures and the siege in Ottawa can be brought to an end quickly.

Nothing on the of note on the calendar for today, the Canadian market will get ready for tomorrow's January Inflation report which will once again put the Canadian economy front and centre.