Crude comes back to life

WTI crude oil is up $2.06 to $55.44 in what could be some short covering ahead of the US holiday.

It's still a small move compared to the rout in crude in the past month but it's something to give the bulls a bit of hope.

USD/CAD is at the lows of the day, down 39 pips to 1.3267 in response to the fall in oil.