Canadian bank earnings begin: What you need to know before markets open

Futures are higher this morning after yesterday's brutal selloff as Canada kicks off its bank earnings parade.

U.S. stock index futures are higher today as the dollar retreated from the largest grow in two years and as worries about Greece receded.

In early European trading, the dollar was down around another of one percent against a basket of currencies, after jumping 1.3 percent on Tuesday, its biggest rise since July 2013.Greece and its European creditors also have played down fears that Athens would default on the payment towards the International Monetary Fund in a few days.Bank of Montreal, Canada\’s fourth-largest lender, beat the road though its fiscal second-quarter profit fell 7.2 percent after going for a $106 million restructuring charge. The firm raised its dividend 2.5 percent to 82 cents a share.National Bank of Canada, the country\’s sixth-largest lender, reported a 12.5 per cent rise in quarterly profit, largely helped by its markets business.U.S. stocks recorded their steepest fall in 3 weeks on Tuesday as the dollar rallied after buoyant data fueled expectations that the interest rate hike could come sooner rather than later.The S&P/TSX composite index lost 136.59 suggests close at 15,050.81, as the loonie gave back 0.74 of a U.S. cent to 80.47 cents.Applications for U.S. home mortgages fell a week ago as interest rates rose, an industry group said on Wednesday.Tiffany\’s shares were up 6.6 per cent to $91.19 in premarket trading after the luxury jeweler\’s quarterly profit beat estimates.Michael Kors Holdings fell 11 per cent to $53.92 after the handbag maker reported its slowest sales development in at least three and a half years as demand in The united states weakened.? Thomson Reuters 2015