USD index is weaker as tech stocks point lower

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

US Dollar             1.2700-1.2800

Euro                     1.4350-1.4450

Sterling                1.7200-1.7300

The US Dollar index is marginally weaker this morning in what was a quiet overnight session, stocks were a little lower overnight led by a drop in the tech sector with Tesla leading the way lower down over 4%. All market eyes today will be on the release of the minutes from the last Federal Reserve meeting to see if the Fed is bringing forward its first interest rate hike this year and also just how many interest rate hikes there will be.

The Canadian Dollar is for the most part unchanged this morning with USD.CAD opening the day slightly higher than yesterday at the 1.2725(0.7859) level. Any movement in the Loonie today should come from the result of the Fed minutes but barring any surprises the Loonie should remain stable throughout the day.