CAD review: Western Union

Quotes from Western Union:

- The loonie remained on the defensive and less than two cents from six year lows against its U.S. rival. Oil firmed but still kept below $50. 

- Remarks from central bank heads from both sides of the border should offer fodder for USDCAD. 

- The loonie should remain generally on the defensive since data Thursday on inflation and growth set for March 3 could cement another rate cut by the Bank of Canada on March 4.