Market update: US Dollar holds steady amidst quiet trading day post-Easter, eyes on employment reports

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

US Dollar        1.3500-1.3600

Euro                1.4575-1.4675

Sterling           1.7050-1.7150

WTI Oil (opening level) $83.11

The US Dollar index is steady this morning as the markets starts trading in the new month and quarter. The Dollar has maintained its strength after Friday's US Personal Consumer Expenditures showed that inflation is in line with the Federal Reserve's expectations and should keep them on path for their first interest cut in either June or July.

The Canadian Dollar is also steady as it traded in a narrow band after the inflation report on Friday, USD.CAD opens the new quarter near the 1.3550 (0.7380) level and should remain range bound ahead of Friday's employment report.

Today should be fairly quiet as most of Europe is closed for the Easter Monday holiday, US and Canadian stocks are poised to move higher and play catch-up after being closed on Friday. The highlight on the calendar this week will be Friday's US and Canadian Employment reports for March, the US Dollar and stocks should remain supported ahead of those reports.