At 8:30 am ET Tuesday, Statistics Canada releases Canada building permits for March. Economists expect the building permits to rise 2.8 percent on month, reversing a 2.5 percent decline in February.

Ahead of the data, the loonie traded mixed against its major counterparts. While the loonie rose against the euro and the yen, it eased from early highs against the greenback and the aussie.

The loonie was worth 1.3716 against the greenback, 83.06 against the yen, 1.4934 against the euro and 1.0078 against the aussie as of 8:25 am ET.

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