Stocks continue their bumpy ride

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

US Dollar             1.2525-1.2625

Euro                     1.3450-1.3550

Sterling                1.5725-1.5825

WTI Oil (opening level) $122.00 (up $1.50 from yesterday's opening.)

The US Dollar Index is marginally weaker this morning as the Euro got a small bounce on the announcement from the ECB that they will end their stimulus program on July 1st and then will increase interest rates by 0.25% at their July meeting. I get  sense that markets are a little disappointed in this move as investors were expecting a 0.5% increase in interest rates but the ECB is playing it very conservatively as they worry about economic growth slowing due to the Ukraine war. 

The Canadian Dollar lost a little ground overnight but continues to range trade in very tight ranges, USD.CAD opens the day near the 1.2570 (0.7955) level and even with the almost daily jump in the oil price seems confined to very narrow ranges. Perhaps the Employment report tomorrow will shake up the Canadian market a bit.

Stocks continue their bumpy and volatile ride, after a down day yesterday they are pointing a bit higher to start the day but should remain relatively calm as the market awaits tomorrow's US inflation report. BOC Governor Macklin has a televised press conference today as the Bank reports on the review of the Canadian financial system, I doubt it will have much impact on the markets but it may have some interesting ramifications for the Canadian financial system going forward.