Statistics Canada releases Canada jobs data for February at 8:30 am ET Friday. Canadian employment is forecast to shrink by 5,000 jobs, in contrast with an addition of 48,300 jobs in January. The jobless rate is forecast to remain unchanged at 6.8 percent.

The loonie traded mixed against its major rivals before the data. While the loonie held steady against the euro and the yen, it dropped against the greenback and the aussie.

The loonie was valued at 1.3505 against the greenback, 1.4321 against the euro, 85.47 against the yen and 1.0162 against the aussie as of 8:25 am ET.

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