CANADA STOCKS-TSX futures dip; focus on upcoming Fed rate decision

March 17 (Reuters) - Futures tied to Canada's main stock index dipped on Monday, tracking its Wall Street peers, while investors looked towards the U.S. Federal Reserve's interest rate decision later this week.

The S&P/TSX index futures were down 0.1% at 0647 ET (1047 GMT).

The benchmark index logged its biggest daily advance in seven months on Friday, tracking a market-wide rally. However, investors doubted whether the selloff due to U.S. and Canada's trade war had run its course.

Despite Friday's gains, the index ended 0.8% lower last week.

Focus is now on the U.S. Fed's interest rate decision on Wednesday. Traders widely expect the Fed to keep rates on hold, but they will look for policymakers' comments about the central bank's policy outlook amid concerns that economic growth could be hit by the trade war.

U.S. stock index futures fell on Monday, a day after Treasury Secretary Scott Bessent warned that there are "no guarantees" the United States will escape a recession.

In commodities, oil rose on Monday after the U.S. vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping.

Gold edged higher after it hit the $3,000 mark for the first time last week, while copper prices also nudged up on the day.

Back home, Canada's consumer price index data for February will grab attention on Tuesday. Annual inflation is expected to inch up to 2.2%, just above the Bank of Canada's 2% target.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1 = 1.4354 Canadian dollars) (Reporting by Nikhil Sharma; Editing by Leroy Leo)