At 8.30 am ET Wednesday, Statistics Canada will release Canada manufacturing sales for March. Economists expect the sales to rise 1 percent, compared to a 1.9 percent growth in the previous month.

Ahead of the data, the loonie traded mixed against its major counterparts. While the loonie rose against the euro, it held steady against the rest of major counteraprts.

The loonie was worth 85.61 against the yen, 0.9629 against the aussie, 1.5147 against the euro and 1.2864 against the greenback as of 8:25 am ET.

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