Statistics Canada releases Canada GDP for July and industrial product price index for August at 8:30 am ET Friday. The economy is forecast to grow 0.1 percent on month, down from last month's reading of 0.3 percent.

Ahead of the data, the loonie traded mixed against its major rivals. While the loonie held steady against the aussie, it fell against the rest of major currencies.

The loonie was worth 90.47 against the yen, 1.4684 against the euro, 0.9739 against the aussie and 1.2442 against the greenback as of 8:25 am ET.

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