Statistics Canada releases Canada CPI data for December at 8:30 am ET Friday. The CPI is expected to decline 0.3 percent on month, compared to a 0.3 percent rise in November.

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

The loonie was worth 88.77 against the yen, 0.9957 against the aussie, 1.5316 against the euro and 1.2309 against the greenback as of 8:25 am ET.

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