Statistics Canada releases Canada CPI for February and retail sales for January at 8.30 am ET Friday. Economists expect the inflation to grow 0.4 percent on month, compared to a 0.7 percent increase in January.

Ahead of these data, the loonie traded mixed against its major rivals. While the loonie rose against the yen and the greenback, it fell against the euro and the aussie.

The loonie was worth 81.43 against the yen, 0.9973 against the aussie, 1.2909 against the greenback and 1.5949 against the euro as of 8:25 am ET.

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