Aug 15 (Reuters) - Futures tied to Canada's main stock

index steadied on Friday after the previous session's losses, as

attention shifted to an upcoming high-stakes U.S.-Russia summit

to discuss a potential end to the war in Ukraine.

The futures on the S&P/TSX index rose 0.04% by

05:30 a.m. ET (0930 GMT), following the S&P/TSX composite

index's losses on Tuesday, when a hotter-than-expected

U.S. inflation report clouded hopes for a Federal Reserve

interest rate cut.

According to the CME Group's FedWatch tool, odds for a

25-basis-point reduction next month reduced to 92.6% from the

previous 100% before the data, while bets for a hefty 50-bps

move have completely vanished.

The stage was set for talks between U.S. President Donald

Trump and Russian leader Vladimir Putin in Alaska later on

Friday, although hopes for a lasting ceasefire to end the

conflict in Ukraine remain slim.

Ahead of the summit, oil prices slipped on heightened

concerns about fuel demand due to largely disappointing economic

data from the U.S. and China.

Gold prices remained steady but were poised for a weekly

decline, while copper was on track to post gains for the week.

Despite Thursday's losses, expectations for Fed easing have

kept Canadian equities on track to finish the week higher. The

TSX is up 0.56% so far this week.

About 75% of Canada's exports go to the U.S., with much of

them exempt from tariffs under the continental trade pact. So, a

Fed move could also benefit Canada.

At 8:30 a.m. ET, domestic investors will digest June

manufacturing sales and wholesale trade data. Later in the day,

U.S. releases include import prices, consumer sentiment and

retail sales.

In other news, Air Canada ( ACDVF ) and its flight attendants

remained at odds on Friday, despite government pleas to resume

bargaining and avert a strike.

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($1 = 1.3793 Canadian dollars)