At 10:00 am ET Wednesday, the Bank of Canada announces decision on interest rates. Economists expect the bank to hold benchmark rate at 0.50 percent.

Ahead of the data, the loonie advanced against its major rivals.

The loonie was worth 1.3306 against the greenback, 82.46 against the yen, 1.4113 against the euro and 0.9962 against the aussie as of 9:55 am ET.

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