Sept 4 (Reuters) - Futures tied to Canada's main stock index fell on Wednesday as crude and metal prices declined, while investors looked forward to the Bank of Canada's highly anticipated monetary policy decision due later in the day.
September futures on the S&P/TSX index were down 0.2% at 6:02 a.m. ET (10:02 GMT).
All eyes will be on the Bank of Canada's monetary policy meeting due at 9:45 a.m. ET, where market participants expect to see a third consecutive interest-rate cut this year.
The Canadian central bank is expected to trim borrowing costs by 25 basis points, bringing the policy rate down to 4.25%.
Looser credit conditions can boost consumer spending and business investments, which eventually benefit riskier assets such as equities.
Across the border, the U.S. Federal Reserve is also expected to start cutting rates in its policy meeting on September 18.
Investors will also keep a close watch on the U.S. Job Openings and Labor Turnover Survey for July at 10:00 a.m. ET, especially after the country's recent fragile manufacturing data weighed on the global market sentiment.
The Toronto Stock Exchange's energy sector was in the limelight as oil prices fell, after slipping nearly 5% in the previous session amid signs of an end to a political dispute that halted Libyan oil exports.
The materials sector remained in focus as gold and copper prices edged lower.
The composite index (.GSPTSE), ended more than 1% lower on Tuesday, tracking declines in materials and energy stocks.
In corporate news, Canadian investment fund Brookfield (BAM.TO), is close to selling renewable energy firm Saeta Yields to Masdar of the United Arab Emirates, according to a report by Expansion.
COMMODITIES
Gold : $2,482.94; -0.4%
US crude : $69.99; -0.5%
Brent crude : $73.39; -0.5%
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($1 = 1.3552 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
