Nothing for US traders to chew on

Nothing for US traders to chew on

Markets are in a modestly better mood ahead of quadruple witching day. That means stock index futures, stock index options, stock options, and single stock futures all expire today.

That's likely behind at least some of the recent volatility in markets.

Economic data won't be a factor for US traders with nothing at all on the calendar but CAD traders will be watching January retail sales at the bottom of the hour. The consensus is -3.0% on lockdowns and cold weather.

This almost looks like a free roll for CAD bulls. If it's soft, it will be blamed on the lockdown and forgiven. If it's strong, it will be seen as a sign of an economy that's ready to roar.

At the same time, the oil market rattled CAD yesterday so keep one eye on that. A bounce to $61.33 earlier has faded and crude is up just 9 cents to $60.16.