April 29 (Reuters) - Futures for Canada's main stock

index drifted higher on Monday as base and precious metals moved

higher, while investors await a week of corporate earnings and

the U.S. Federal Reserve's monetary policy decision.

June futures on the S&P/TSX index were up 0.3% at

6:45 a.m. ET (10:45 GMT).

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

ended 0.4% higher on Friday, adding to its weekly gain

of 0.7%, with commodity-linked shares gaining appeal in the face

of stubborn U.S. inflation.

Gold prices rose on a softer U.S. dollar, while copper

prices soared to two-year highs, driven by supply concerns

highlighted by the BHP Group-Anglo American's potential deal,

though signs of sluggish Chinese demand kept prices short of a

record peak.

On the flip side, oil prices trended lower after

Israel-Hamas peace talks in Cairo tempered fears of a wider

conflict in the Middle East.

On the radar this week is the U.S. Federal Reserve's next

decision on interest rates due Wednesday, following an inflation

report on Friday that showed inflation remained in line with

estimates.

Data-wise, a monthly reading of the crucial non-farm

payrolls data is also due in the U.S. that will provide more

detail into the American labor market.

A monthly reading of the gross domestic product (GDP) data

in Canada is due on Tuesday, which will provide more insight

into the health of the economy.

Economic data in Canada has been in the limelight for

investors since Bank of Canada's Governor Tiff Macklem hinted at

the possibility of a June cut if the cooling trend in inflation

was sustained early in April.

Corporate earnings in Canada will also pick pace with

Cargojet ( CGJTF ), Gildan Activewear ( GIL ) and Barrick Gold ( GOLD )

among others set to report their quarterly figures

throughout the week.

In corporate news, brokerage RBC downgraded Enerplus Corp ( ERF )

to "sector perform" from "outperform".

COMMODITIES AT 6:45 a.m. ET

Gold futures: $2,354.6; +0.3%

US crude: $83.63; -0.3%

Brent crude: $88.95; -0.6%