June 11 (Reuters) - Futures tracking Canada's main stock

index fell on Tuesday after oil and precious metal prices

weakened against a firm dollar, while investors awaited key U.S.

inflation data and the Federal Reserve's monetary policy

decision due this week.

Futures on the resources-heavy S&P/TSX index were

down 0.5% at 06:24 a.m. ET (1024 GMT).

Oil prices dipped about 0.2%, having climbed

around 3% to a one-week high on Monday on expectations that the

Northern Hemisphere vacation season will boost fuel demand this

summer.

Gold and silver prices were marginally down as

investors looked ahead to economic projections from U.S. Fed

officials on Wednesday, which are expected to show fewer rate

cuts than policymakers anticipated three months ago amid

unexpectedly sturdy U.S. inflation.

Traders are currently pricing in rate cuts of 40 basis

points (bps) from the Fed this year, with the first cut seen in

September or November, according to LSEG's rate probabilities

app.

On the other hand, the Bank of Canada (BoC) trimmed its key

policy rate last week and investors are anticipating at least

two more rate cuts this year.

BoC Governor Tiff Macklem and Deputy Governor Sharon Kozicki

are scheduled to speak later in the week.

In corporate news, J.P. Morgan started coverage on Canadian

e-commerce platform Shopify ( SHOP ) with an "overweight"

rating, noting a recent pullback in the stock following its

quarterly results creates an "attractive" entry opportunity.

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

ended 0.3% higher on Monday, helped by a jump in oil

prices.

COMMODITIES

Spot gold: $2,307.59; -0.1%

US crude: $77.51; -0.3%

Brent crude: $81.43; -0.3%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

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($1= C$1.3772)