CAD review

Better than expected news on Canadian inflation and consumers helped keep the loonie on a strengthening path against the greenback. 

The loonie hit a session best under C$1.21, a new three-month peak, after annual inflation rose 1.2% in March compared to forecast to hold at 1.0%. Retail sales were up a strong 1.7% in February, more than three times better than forecasts of a 0.5% gain. 

The better data helped back up the more sanguine views for the economy the Bank of Canada offered this week, justifying the loonie's bullish performance.