Stock market recovers after yesterday's crash

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

US Dollar             1.3650-1.3750

Euro                     1.3150-1.3250

Sterling                1.4750-1.4850

WTI Oil (opening level) $77.85

The US Dollar index is marginally weaker this morning as the overnight markets took a bit of a breather after yesterday's debacle that saw global stocks crash and the US Dollar index soar to a 2002 high. Sterling which had led the pack lower over the last couple of days recovered a little last night on some investor profit taking but going forward with the Government and the Bank of England at odds on how to handle the economy the Pound is sure to continue its decline.

The Canadian Dollar continues to remain weak, it stabilized against the Greenback overnight but lost a little ground to the other currencies. Once again there is very little on the horizon to help the Loonie so look for more weakness in the weeks ahead.

We get a look at the state of the US economy this morning in the form of Durable Good orders for August, stocks and a strong evening overnight and the US market is poised to open higher so if this holds throughout the day the Dollar may give back a little strength and US Dollar buyers may want to look at that before the next move higher.