CANADA STOCKS-TSX futures steady following record rally

Sept 10 (Reuters) - Futures tied to Canada's main stock index were subdued on Wednesday, as investors paused after a record rally in the previous session and awaited U.S. producer price data due later in the day for insights into tariff-induced inflation.

Futures on the S&P/TSX index SXFcv1 gained 0.06% to 1,721.50 points by 06:26 a.m. ET (1026 GMT).

The S&P 500 U.S. benchmark index also notched a record high close on Tuesday after a downward U.S. payrolls revision supported expectations that the Federal Reserve will soon cut interest rates to shore up economic growth.

U.S. producer prices report will be in focus later in the day to assess the impact of President Donald Trump's tariff policies and whether it could help make the case for a jumbo 50-basis-point cut at the Fed's meeting next week.

In commodities, prospects of a Fed rate cut helped underpin the price of gold that hovered near an all-time high on Wednesday. Oil prices also rose, while copper held steady.

Meanwhile, expectations that the Bank of Canada will resume its easing cycles have supported market sentiment since last Friday, following disappointing jobs data.

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