Canadian dollar fell against most rivals on Tuesday after forecast-missing Canadian data.
Government data showed the trade balance marked a deficit of 100 million Canadian dollars, missing estimates of a 2.5 billion surplus by a wide margin.
Later this week, US consumer prices data will offer crucial clues on the pace of inflationary pressures in the world's largest economy.
The Fed recently paved the way for a solid rate hike in the March meeting and probably many more hikes this year.
The loonie fell 0.3% against US dollar to 0.7868 as of 18:06 GMT, while marking a session-high at 0.7897.