CAD review: Western Union

Quotes from Western Union:

- The loonie slumped back toward recent six-year lows, hurt by lousy news last week on the Canadian consumer and a fresh fall in oil which slipped below $50. 

- Friday's hefty 2 percent plunge in Canadian retail sales was the biggest in four years and seen adding more fuel to the case for the Bank of Canada to slash its lending rates. 

- Canadian inflation data are due Thursday and if weaker could cement the case for another BOC rate cut when officials next meet on March 4. The current market remains highly attractive for CAD buyers who can lock in coming exposures at lower costs with forward contracts.