CANADA STOCKS-TSX futures rise on commodity boost while investors await US inflation data

Jan 15 (Reuters) - Futures for Canada's main stock index rose on Wednesday, buoyed by gains in commodity prices, while investors waited for a key U.S. inflation report and local economic data.

March futures on the S&P/TSX index SXFcv1 were up 0.4% at 6.40 a.m. ET (1140 GMT).

All eyes will be on U.S. consumer price index data, due at 8.30 a.m. ET, which could offer clues on prospects of the Fed continuing its easing campaign at some point this year.

Meanwhile, Canadian monthly manufacturing sales and wholesale trade data were also due at 8.30 a.m. ET. The figures could provide insights into the country's economic health.

Investors are also eyeing U.S. fourth-quarter 2024 earnings, with major banks like Citi and JPMorgan set to release results later in the day. Strong earnings are anticipated due to robust dealmaking and trading, and this could also boost Canadian financial stocks.

Among commodities, gold prices XAU= climbed as the U.S. dollar and Treasury yields retreated. GOL/

Oil prices LCOc1, CLc1 also rose due to potential supply disruptions from sanctions on Russian tankers, but gains were limited as the market awaited further clarity. O/R

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended higher on Tuesday rebounding from two consecutive sessions of declines.

An unexpectedly strong U.S. jobs data last week dashed expectations of rate cuts by the Fed this year, and had triggered a selloff in bond markets and weakness in global equities.

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($1 = 1.4341 Canadian dollars)

(Reporting by Ragini Mathur in Bengaluru; Editing by Leroy Leo)

((Ragini.Mathur@thomsonreuters.com))