At 8:30 am ET Friday, Statistics Canada releases Canada CPI for July. Economists expect the inflation to remain steady at 0.1 percent.
Ahead of the data, the loonie traded mixed against its major rivals. While the loonie dropped against the yen, it held steady against the rest of major rivals.
The loonie was worth 1.3141 against the greenback, 1.4964 against the euro, 84.01 against the yen and 0.9556 against the aussie as of 8:25 am ET.