I had never seen anything like this before.
It's becoming less certain, the third (rate hike). We're waiting to see how the remaining data comes through.
This week was a bad one for energy prices, in particular natural gas prices, which were down 15 percent. There was no question of those eventually weighing on the currency.
Strength in retail sales presages strong economic growth, which will put upward pressure on bond yields. The central bank may be a little bit more aggressive in hiking rates.
It's sort of the tough-love argument, that what doesn't kill you makes you stronger.
The Canadian dollar still gets support from oil prices. There is still room for the currency to improve.
The Bank of Canada still has a constructive view on economic growth. They may be likely to raise interest rates more.