(Updates with market moves, adds analyst comments)

By Sanchayaita Roy

July 30 (Reuters) - Canada's main stock index slightly

moved past a record high on Wednesday after the Bank of Canada's

rate decision, while investors looked for potential trade

updates as the August 1 tariff deadline drew closer.

The S&P/TSX composite index was up 0.05% at

27,554.54 points.

The BoC, as expected, held its key policy rate at 2.75% for

the third time in a row, saying the risk of a severe and

escalating global trade war had diminished.

The U.S.

Federal Reserve's rate decision, due later in the day, 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".

"It seems that the August 1 deadline is movable in Canada's

sake, if need be...it's been moved once and could be moved

again", said Douglas Porter, chief economist at BMO Capital

Markets.

Porter said President Donald Trump appears eager to tie up

loose ends by the end of the week, adding, "We may hear some

news...investors will be a little bit more cautious than usual,

with all those potential uncertainties".

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

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

to expire on August 12.

U.S. officials said it would be up to Trump to approve the

plan.

On the TSX, technology stocks rose 1% ahead of

earnings reports from Wall Street's tech heavyweights, due after

the bell. Celestica ( CLS ) continued gains from previous

session with a 5.8% rise.

Energy subindex fell slightly as oil prices

steadied.

Among individual stocks, Parex Resources ( PARXF ) rose 4.3%

after reporting second-quarter results.

Data showed that the U.S. economic growth rebounded more

than expected in the second quarter.