CAD review

Western Union notes: 

The loonie's rise this week to one-month highs had more to do with the weaker dollar south of the border than Canada's own economic merit. 

The loonie lost ground after core inflation slowed a tick to 2.2 percent annually in May while the big negative came from a surprise 0.1 percent fall in retail sales in April. Oil also weakened below $60, weighing on the commodity currency. 

A lack of much Canadian data over the coming week should see the loonie take its main cues from drivers outside its borders. Any worsening in the Greek debt crisis would augur volatility for risk sensitive currencies such as Canada's.