At 10:00 am ET Wednesday, the Bank of Canada announces its decision on interest rate. Economists expect the benchmark rate to be raised to 1.75 percent from 1.50 percent.
Ahead of the decision, the loonie traded mixed against its major counterparts. While the loonie rose against the aussie, it held steady against the rest of major rivals.
The loonie was worth 1.3090 against the greenback, 86.00 against the yen, 0.9268 against the aussie and 1.4923 against the euro as of 9:55 am ET.