CAD recovers some strength against the major currencies

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

US Dollar             1.2725-1.2825

Euro                     1.4000-1.4100

Sterling                1.6700-1.6800

USD.RUB (opening level) 129.00-(Ruble remains weak as Russia fights back against sanctions)

WTI (opening level) $107.10- (WTI Oil gave back a little overnight but pressure remains high)

The US Dollar index is marginally weaker this morning as the Euro was able to stage a small recovery on reports that Putin sees positives in negotiations with Ukraine. I am not sure you can put any credence in statements coming out of Russia but as this report was produced Russia also stepped up attacks to include new cities.

The Canadian Dollar recovered some strength against the US Dollar overnight as USD.CAD opens the day back down at the 1.2770 (0.7831) level after spending much of the day yesterday above the 1.2800 (0.7812) level. Today we get the Canadian Employment report for February and the market is expecting 160K jobs to have been created last month but as we were once again coming out of lockdown I don't think it will have much impact on the Loonie.

The volatility in the stock market will continue today, after a down day on Wall Street yesterday stock futures are pointing higher on the opening. The TSX is performing quite well at the moment as it is benefitting from higher commodity prices.