(Updates with analyst comment, market open prices)

By Sanchayaita Roy

Sept 3 (Reuters) - Canada's main stock index touched a

new record high on Wednesday, led by consumer staples and

materials, while investors remained focused on key economic data

this week that could shape the Bank of Canada's rate decision.

The Toronto Stock Exchange's S&P/TSX composite index

was up 0.3% at 28,702.19 points, continuing gains for

the sixth straight session.

Consumer staples rose 1.7% after Canada's

Alimentation Couche-Tard ( ANCTF ) reported its quarterly

earnings. The Circle K parent rose 5.8%.

An index of mining stocks rose 1.1% as gold

extended its rally, reaching a new all-time high, amid growing

expectations of U.S. Federal Reserve rate cuts.

Back home, the focus remained on Canada's unemployment data,

scheduled to come out on Friday, for potential signals that

could guide the BoC's rate-cut path later this month.

"The Bank of Canada is in a tough spot," said Michael

Sprung, noting seven months of manufacturing GDP contraction

that could argue for cuts, even as lingering tariff-driven

inflation may hold them back.

Traders are pricing in a 37% chance of a September interest

rate cut on Wednesday, as per data compiled by LSEG, compared to

a bet of 50% in the previous session.

"The worry about inflation is not going away... so as the

day comes nearer, those (rate-cut) expectations tend to go

down." Sprung added.

The BoC has kept rates steady at 2.75% at its last three

meetings since March.

Data showed on Wednesday, Canadian labor productivity fell

by 1.0% in the second quarter, as businesses reduced their

output in response to the uncertainty around trade. The last

time productivity declined so sharply was in the fourth quarter

of 2022.

South of the border, a Labor Department report showed job

openings fell to 7.181 million in July, compared with

economists' estimate of 7.37 million.

The data is the first in a series of jobs reports this week

that could give investors a clearer view on the Fed's policy

path.