FED officials have different opinions on future interest rate policy, while the balance indicated that one more hike is needed

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

US Dollar        1.3550-1.3650

Euro                1.4475-1.4575

Sterling           1.6650-1.6750

WTI Oil (opening level) $85.23

The US Dollar index is holding steady this morning in what was a quiet overnight session, investors are on the sidelines for the moment as they await word on US inflation which is due out tomorrow. Most markets remain nervous and are watching the Israel-Hamas conflict to see if it expands beyond its current antagonists, if further countries get involved then it will surely rile the markets and push the Dollar higher.

The Canadian Dollar is unchanged against the US Dollar this morning but it did lose a little ground to the other currencies. The Loonie should remain stable ahead of the US inflation report tomorrow but like other currencies it will react when the report is released.

Markets today are awaiting the release of the minutes from the last Federal Reserve meeting and will be looking for the any consensus among the members on an interest rate hike. From reading some highlights of the speeches from Fed officials over the last few weeks I get a sense that there is some division on another interest rate hike, the minutes will bear out just how big that division is and the market might gain some clarity on what will happen in November.

After a positive day yesterday, stocks are again pointing higher and should remain supported as will the Dollar throughout the day, the stock market will also look to tomorrow's inflation report for some direction.