CAD review

A big week for markets started with the loonie keeping toward the stronger end of its range, less than a cent away from January peaks. 

Markets will take direction from a statement from the Fed on Wednesday and monthly growth data from Canada on Thursday. Mild contraction of -0.1 percent is on the cards for a second straight month in February. 

A weaker than expected outcome would signal a still open door to a Bank of Canada rate cut which would risk a loss of altitude for the loonie.