Quiet morning for financial markets as investors await FED minutes

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

US Dollar             1.3400-1.3500

Euro                     1.3800-1.3900

Sterling                1.5950-1.6050

WTI Oil (opening level) $78.76

The US Dollar index is holding firm this morning as the market awaits the last bit of information before the thanksgiving holiday. This afternoon the Federal Reserve will release the minutes from their last meeting and the market will be looking for any signs among the voting members that they will start to slow the pace of interest rate hikes in the coming months. If it looks like they may slowdown the pace of interest rate hikes next month look for the US Dollar to take a hit and stocks to surge.

The Canadian Dollar could not extend its strength from yesterday as USD.CAD opens the day back at the 1.3425 (0.7449) level after trading below 1.3360 (0.7485) yesterday afternoon. The Loonie also lost ground to both the Euro and Pound so a tough day for the Loonie, the oil price is coming under a bit of pressure in the face of a global slowdown and that may be playing on the Loonie a little.

In addition to the Fed minutes, we get the US Durable Goods which is a good report on the state of the US economy, after the minutes release the market should calm down for the US holiday and nor fully pick up again until Monday.