TSX futures dip as investors await domestic CPI data, possible rate cuts

(Reuters) -Futures linked to Canada's main stock index ticked down on Tuesday as investors remained on edge ahead of domestic CPI data due later in the day, while anticipating rate-cut resumptions from the Bank of Canada and the U.S. Federal Reserve this week.

Futures on the S&P/TSX Index dipped 0.2% at 1,736.20 points by 06:20 ET (1020 GMT), after closing at a record high in the previous session.

Global markets, including the TSX, have been scaling record highs over the previous few sessions, with markets fully pricing in a Fed rate cut in September and seeking hints on further rate cuts.

The BoC is widely expected to cut by a quarter point as a weakening labor market and slowing economic activity increase pressure on the central bank to resume its cycle of lowering rates.

In other news, the U.S. Senate confirmed Stephen Miran to the Fed's Board of Governors in a narrow vote ahead of the policy meeting, while a U.S. appeals court did not allow President Donald Trump to fire Fed Governor Lisa Cook.

In commodities, gold was at record highs, helped by a softer dollar, while copper retreated from multi-month highs on profit taking. Meanwhile, oil prices were steady.

Canada's antitrust regulator said it would review the proposed $53 billion merger of miners Anglo American and Teck Resources, which would be the second-largest merger in mining if approved.

Toronto's S&P/TSX composite index surpassed a record high on Monday, tracking its Wall Street peers and receiving a boost from energy and technology shares.

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(Reporting by Twesha Dikshit; Editing by Vijay Kishore)