Solid gains for oil and the loonie
WTI crude is just a few cents from breaking to the best levels since early December. It's up $0.56 to $53.87. The January high was $54.02.
Today's ADP employment data is a good sign for consumers and talk continues to circulate of lower Saudi oil production along with turmoil in Venezuela. US weekly inventories are due at 10:30 am ET (1530 GMT).
USD/CAD isn't quite as close to the edge of the range but it's getting there. USD/CAD is down 50 pips to 1.3217 today. Monday's low was 1.3203 and the January low was 1.3180.
