Canadian dollar picked up some gains against the other currencies

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

US Dollar             1.2800-1.2900

Euro                     1.3050-1.3150

Sterling                1.5600-1.5700

WTI Oil (opening level) $95.76

The US Dollar index is marginally stronger this morning as the Chinese response to the Pelosi visit seems to be limited to war games off the coast of Taiwan and some additional trade curbs against the island nation. The Dollar did pick up some strength yesterday when several Federal Reserve speakers reiterated throughout the day that the plan for the Fed is to keep raising interest rates until inflation is back under control, this should help keep the US Dollar supported going forward.

The Loonie had a good 24 hours, while it remains range bound against the US Dollar it was able to pick up some small gains against the other currencies so at the moment it is holding its own and continues to outperform a lot of currencies against the US Dollar.

After a nervous day on Wall Street yesterday US stocks are poised to jump higher on the opening this morning, with only limited US data on the calendar for today the Greenback should remain supported as markets await Friday's employment numbers.