[USD/CAD]

[USD/CAD] is starting to firm up a bit towards the top end of the day's range around 1.2540, with a set back in oil now sitting at session lows working as a Cad weight. A sustained fall below the Usd 50 brl mark should in theory help boost further headline gains towards the initial 1.2600 psych resistance. An extremely negative start for the Dow Jones should also prompt some risk averse demand for the headline (DJI currently down 230.8). Higher up, a strong resistance line lurks at 1.2629 (50% retrace). All eyes on the BoC's Carney speech at 17.50gmt, which could provide clues on QE measures ahead of the BoC monetary report later in the month.