At 8:30 am ET Friday, Canada retail sales for March and consumer price inflation for April are set for release. Ahead of these reports, the loonie bounced off from its previous lows against the other major currencies.

The loonie was quoted at 1.3630 against the euro, 0.9621 versus the aussie, 99.10 against the yen and 1.2201 against the greenback at 8:25 am ET.

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