The Canadian and US dollars both delivered a chequered performance, not only against the rest of the world but also against one another. In the end the Loonie was unchanged against the Greenback for a second week and the two went up by 1.3% - two and a half cents in the case of the Canadian dollar - against sterling.

As was the case in the previous week, there were vanishingly few economic data to influence investors' view of the Loonie. The only ones that did appear came out in a single batch last Friday. One set was helpful: Canadian inflation was steady at 1.0% in October with the "core" rate, excluding the effect of food and energy prices, also unchanged at 2.1%. The other set, for September's retail sales, was disappointing: sales were down by -0.5% on the month, both with and without the impact of vehicle sales.