There were three sets of economic statistics to affect the Canadian dollar. The first came last Friday week in the shape of the consumer price index figures for June. The 1.0% headline inflation rate was bang on target and the Bank of Canada's "core" rate, which ignores the effect of volatile fuel and food prices, was a touch above forecast at 2.3%. 

The third set of data was for retail sales, which increased by 1.0% in May, more than twice as much as expected. The second set, for wholesale sales, showed a disappointing -1.0% monthly fall.

Yet none of the numbers made a blind bit of difference to the Loonie because they could have no influence on monetary policy so soon after the BoC cut its benchmark interest rate. The Canadian dollar lost half a US cent over the seven days and strengthened by half a cent against sterling.