(Reuters) - Futures linked to Canada's main stock index fell on Tuesday as metal prices eased after their rally in the previous session, while upcoming data in the United States kept investors' risk appetite in check.
September futures on the S&P/TSX index were down 0.36% at 6:37 a.m. ET (1037 GMT).
Canadian miners were poised to lose ground as major profit booking after the recent rally dampened gold and copper prices. [GOL/] [MET/L]
The energy sector remained in focus, with oil prices easing after five consecutive sessions of gains, as OPEC slashed its 2024 oil demand growth forecast owing to softer demand in China. [O/R]
The S&P/TSX composite index closed 0.4% higher on Monday on resources-linked stocks, logging its third straight session of gains.
Investors will now focus on U.S. producer price index (PPI) numbers, due at 8:30 a.m. ET, and the country's consumer price index (CPI) reading on Wednesday to gauge the Federal Reserve's monetary policy stance.
Economic data is in limelight in the United States after recent unemployment numbers stoked recessionary fears in the world's biggest economy.
Markets unanimously expect a rate cut by the Fed in its next policy meeting on September 18.
Wall Street futures rose ahead of the dataset, after major indexes remained muted in the prior session. [.N]
In corporate news, engineering and professional services firm WSP Global said it would acquire U.S.-based Power Engineers for $1.78 billion.
COMMODITIES
Gold: $2461.18; -0.45% [GOL/]
US crude: $80; -0.01% [O/R]
Brent crude: $82.2; -0.07% [O/R]
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($1 = 1.3731 Canadian dollars)
(Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas)