Market Outlook: Quiet Start as US Dollar Softens, Eyes on Central Bank Meetings and Bitcoin Surge

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

US Dollar        1.3500-1.3600

Euro                1.4700-1.4800

Sterling           1.7150-1.7250

WTI Oil (opening level) $79.38

The US Dollar index is marginally weaker in a quiet start to the week. It will be a buys week on the calendar as we get the Bank of Canada on Wednesday, an ECB meeting and then the US and Canadian Employment figures on Friday. All market watchers seem to be focusing on Bitcoin at the moment that has broken above the $65,000 mark over the weekend, stocks look set to open lower this morning so they could be in for a tough week.

The Canadian Dollar for the most part is unchanged this morning against the US Dollar but it did lose some ground to the other currencies, it should continue to range trade as we wait on what the Bank of Canada says on Wednesday.