Statistics Canada is set to release Canada trade data for May at 8:30 am ET Wednesday. The deficit is expected to narrow to C$2.68 billion from C$2.94 billion in April.
Ahead of the data, the loonie dropped against its major rivals.
The loonie was worth 1.3019 against the greenback, 77.29 against the yen, 0.9737 against the aussie and 1.4427 against the euro as of 8:25 am ET.
The material has been provided by InstaForex Company – www.instaforex.com