Statistics Canada releases Canada retail sales for November and consumer price index for December at 8:30 am ET Friday. The CPI index is expected to be flat on month, following a 0.4 percent decline in November.

Ahead of the data, the loonie declined against its major rivals.

The loonie was worth 1.3352 against the greenback, 86.18 against the yen, 1.4207 against the euro and 1.0064 against the aussie as of 8:25 am ET.

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