USD index remains unchanged as markets start to ease for the Easter holiday

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

US Dollar         1.2550-1.2650

Euro                 1.4750-1.4850

Sterling            1.7300-1.7400

The US Dollar Index is for the most part unchanged this morning in a quiet overnight trading session as markets around the world start to ease for the Easter holiday. The US Dollar remains strong with the expectation that the economy will continue to rebound amid the growing vaccination roll-out that should see most Americans vaccinated by the end of May. With Biden's infrastructure plan now announced it will be most interesting to see what form it ultimately takes as it works it way through congress this summer, Republican's will be direly opposed to corporate tax hikes and progressive Democrats will say the program is not big enough, either way as the talks go on the plan will help to boost the US Dollar.

The Canadian Dollar continues to range trade with little direction as it opens the day near the 1.2600 (0.7937) level. It looks like the economy will take another small hit has a lot of the country is heading into another lockdown for the month of April, Canada is a long way from getting this virus under control and the half-measures that the Governments are taking are just not working. The Loonie should remain range bound ahead of the Easter weekend but will most likely come under further pressure from a stronger US Dollar at some point in the coming days.

Nothing of note on the calendar today but tomorrow the US markets are open and they will be watching the US Employment report for March where the number is again going to show positive news for the US economy and should give the US Dollar a small boost.