The banking crisis seems to be calmed down after the recent collapse

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

US Dollar         1.3650-1.3750

Euro                 1.4750-1.4850

Sterling            1.6750-1.6850

WTI Oil (opening level) $70.20

The US Dollar index is relatively stable as the last week of March gets underway, overnight stocks were trading stronger and North America is pointing to a positive opening so the Greenback may trade a bit weaker throughout the day. Markets are still concerned with the ongoing banking crisis and they continue to punish financial stocks but for the moment things seemed to have calmed down. Over the next few weeks, the markets will try and figure out if the Fed will do another interest rate hike in early May or will the increasing threat of a recession push them to the sidelines, this theme will dominate the markets for the next few weeks.

The Canadian Dollar has made a little progress against its Southern neighbour and USD.CAD opens the day near the 1.3700 (0.7299) level which is its strongest showing since early March. I would still expect more range trading for the Loonie as there is not much on the horizon to think it will go on an extended run.

Nothing of note on the calendar today so look for a quiet day on the currency markets with the Loonie trading in tight ranges.