With most eyes on the prospect of higher interest rates in the United States and the interminable wrangle between Greece and its creditors, investors paid little attention to the Canadian dollar. It weakened by a cent and a half against the class-leading US dollar and lost half a cent to sterling.
There were just three sets of Canadian economic data. Last Friday's inflation numbers were slightly lower than forecast with the headline rate at 0.8% and the "core" rate, excluding the effect of food and fuel prices, at 2.3%. On their own they might have hurt the Loonie but they were offset by stronger than expected retail sales in March. Thursday's raw material price index was up by a monthly 3.8% while industrial product prices fell by -0.9%.
On Wednesday the Bank of Canada kept its benchmark interest rate steady at 0.75%, as expected. It offered no hint about it next move.