Strong retail sales? Upbeat BOC? No matter, CAD still the laggard this week

Global macro outshines domestic macro
The top two items on the Canadian dollar agenda this week were the retail sales report and the Bank of Canada.
The retail sales numbers today were up 1.3%, crushing the flat estimate. Ex-autos were +2.1% versus the +0.3% consensus. December advance numbers took the shine off but that's a great report.