March 19 (Reuters) - Futures tied to Canada's main stock

index rose on Wednesday, tracking its peers on Wall Street, as

investors prepared for the U.S. Federal Reserve's interest rate

decision later in the day.

The futures on the S&P/TSX index were up 0.2% at

0647 ET (1047 GMT). Wall Street futures were also higher.

Traders expect the Fed to keep rates steady at 4.25%-4.50%

and see only two further cuts later in the year.

More than the central bank's decision, the spotlight

will be on policymakers' economic growth outlook amid U.S.

President Donald Trump's tariffs and the resulting trade war

with key partners like Canada, China and Europe.

Canadian equities have lately come under pressure,

reflecting a selloff globally as markets try to price in risks

of recession due to the ongoing trade war.

The TSX is largely flat for the year, erasing initial gains

in the run-up to Trump's inauguration in January. On Tuesday,

the benchmark index ended lower on Tuesday after a

data showed a surprise jump in domestic annual inflation.

In commodities, oil prices fell on Wednesday after Russia

agreed to Trump's proposal that Moscow and Kyiv temporarily stop

attacking each other's energy infrastructure, a move that could

eventually pave the way for Russian oil to enter global markets.

Gold was trading at a record high on Wednesday as tensions

in the Middle East and U.S. tariff uncertainties lifted the

bullion's safe-haven appeal.

In corporate news, Canadian retailer Alimentation

Couche-Tard ( ANCTF ) missed third-quarter revenue estimates,

hurt by sluggish demand in its convenience stores and fuel

businesses amid rising inflationary pressures.

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($1 = 1.4321 Canadian dollars)