At 8:30 am ET Friday, Statistics Canada will release Canada consumer inflation for December. Ahead of the data, the loonie retreated from its early highs against its major rivals.

The loonie was worth 1.3272 against the greenback, 1.5135 against the euro, 82.44 against the yen and 0.547 against the aussie as of 8:25 am ET.

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