March 14 (Reuters) - Futures for Canada's main stock index were subdued on Tuesday, as worries about the fallout from the collapse of Silicon Valley Bank (SVB) continued to weigh, while markets awaited U.S. inflation data.
Futures on the S&P/TSX index were up 0.1% at 6:48 a.m. ET (1048 GMT), mirroring a rise in U.S. counterparts.
Investors will be eyeing U.S. inflation data due 8:30 a.m. ET on Tuesday for cues on where the Federal Reserve stands on further monetary policy tightening ahead of its interest rate decision next week.
A Reuters poll of economists showed that the U.S. Consumer Price Index (CPI) likely increased by 0.4% last month, after rising 0.5% in January, amid sticky rental housing costs. On a yearly basis, CPI grew 6.0% in February, moderating from a 6.4% rise the previous month.
The benchmark Canadian index (.GSPTSE) had recorded its lowest closing in over two months on Monday as financials (.SPTTFS), its biggest sector, logged a more than 2% decline.
Financial stocks around the world have been under immense selling pressure after SVB's closing by U.S. authorities sparked contagion fears.
Canada's Deputy Prime Minister and Finance Minister Chrystia Freeland met with the country's banking regulator and heads of financial institutions after regulators took temporary control of SVB's Canadian unit.
The aftershock of SVB's collapse reverberated in the oil market, knocking oil prices down over 2%.
Materials and energy companies have a combined weightage of about 31% on the main index.
Gold prices edged lower as the dollar regained strength ahead of U.S. inflation data.
Investors would also watch out for Canadian manufacturing sales data for January due before markets open.
