Oct 20 (Reuters) - Futures linked to Canada's

resource-heavy main stock index gained on Monday, tracking

higher metal prices as investors prepare for a week packed with

crucial economic reports and corporate earnings.

December futures on the S&P/TSX index were up 0.4%

at 05:55 a.m. ET (0955 GMT).

This week's economic calendar features consumer price

inflation data from both Canada and the United States, just days

before policy rate announcements from both countries' central

banks on October 29.

Markets are currently pricing in about 80% chances of 25

basis points easing by the Bank of Canada, while expectations

for a same magnitude cut by the U.S. Federal Reserve stand at

98%, according to data compiled by LSEG.

Investor attention will also be on third-quarter earnings

results, following major U.S. banks' strong start to the

reporting season.

Metal prices provided a tailwind for Canadian futures on the

day, with gold inching higher after a record rally, as

expectations of more U.S. rate cuts and safe-haven demand from

the ongoing government shutdown supported sentiment.

Shanghai copper gained after stronger-than-expected China

industrial output last month boosted investor sentiment.

Meanwhile, oil prices, dipped, pressured by

worries over a global glut as U.S.-China trade conflict added to

concerns about an economic slowdown and weaker energy demand.

The unexpected renewal of trade frictions between the

world's two largest economies has triggered market volatility in

recent weeks.

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

finished lower on Friday, relinquishing much of its

weekly gain as gold prices fell and investors took profits from

high-flying metal mining shares.

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