July 30 (Reuters) - Futures tied to Canada's main stock

index nudged higher on Wednesday ahead of the Bank of Canada's

policy decision, while investors awaited trade updates as the

August 1 tariff deadline drew closer.

Futures on the S&P/TSX index were up 0.2% at

1,639.80 points by 06:05 a.m. ET (1005 GMT). The benchmark index

rose to a record high on Tuesday.

The BoC is expected to hold the rates at 2.75% for a third

time, reflecting a softer-than-expected impact on the Canadian

economy from the trade war with the U.S., economists predict.

The U.S. Federal Reserve's rate decision, due later on

Wednesday, will also be in focus.

The deadline for Canada to reach a trade deal with the U.S.

to avoid facing a 35% tariff on its goods imported to the south

of the border is set for August 1.

U.S. ambassador to Canada Pete Hoekstra said on Tuesday he

hoped the trade deal would be reached "very soon".

Meanwhile, two days of U.S.-China talks ended with both

sides agreeing to seek an extension of their tariff truce, set

to expire August 12.

U.S. officials said it would be up to President Donald Trump

to approve the plan.

In commodities, gold prices inched up, while oil and copper

prices edged lower on Wednesday.

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