June 25 (Reuters) - Futures linked to Canadian stocks were subdued on Tuesday, hurt by a decline in crude prices, while investors turned cautious ahead of the domestic inflation data that could further solidify expectations from the Bank of Canada (BoC) to cut interest rates further.
September futures on the S&P/TSX index were down 0.07% at 6:19 a.m. ET (1019 GMT).
All eyes will be on the Consumer Price Index (CPI) numbers at 08:30 a.m. ET that could give assurance to Canadian policymakers before they slash the borrowing costs in July.
Traders are pricing in a 65.6% chance of a 25-basis-points rate cut by the Canadian central bank in its next policy meeting on July 24.
BoC Governor Tiff Macklem on Monday said there is enough slack in the Canadian labor market to allow for growth and job creation even as inflation slows.
On the commodities front, oil prices , slipped after rising in the previous session, as investors await U.S. consumer price data due later this week.
Copper was marginally up as the U.S. dollar eased slightly but subdued demand in China kept gains in check. On the flip side, gold prices remained muted ahead of key U.S. inflation data.
Wall Street futures were mixed, with S&P and Nasdaq futures rising, as AI chipmaker Nvidia recovered in premarket trading after falling about 13% in the last three sessions.
In corporate news, French renewable power producer Neoen SA (NEOEN.PA), opens new tab signed a share purchase agreement for the acquisition of a majority stake by asset management firm Brookfield (BAM.TO), opens new tab.
COMMODITIES
Gold XAU=: $2336.06; +0.13%
US crude CLc1: $81.28; -0.43%
Brent crude LCOc1: $85.63; -0.44%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada ,
Canadian markets directory
($1 = 1.3653 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay Kishore
