CAD review

Western Union notes: 

The Canadian Dollar was hit by weak data on Friday but higher than expected inflation data held it back. Retail sales for April were sharply lower than expectations falling 0.1 percent after two months of strong gains in February & March. Consumer Price Inflation (CPI) for May came in higher than expected rising 0.9 percent (Y-on-Y). 

The weakness in the Canadian Dollar is now feeding through into inflation and rising inflation will reduce chances for another rate cut in the economy.