CANADA STOCKS-TSX futures inch down after record rally

Sept 19 (Reuters) - Futures tied to Canada's main stock index ticked down on Friday following a record rally and a quarter point interest rate cut by the Bank of Canada this week.

Futures for the S&P/TSX index .SXFcv1 were down 0.1% at 1,742.40 points by 06:10 ET (1010 GMT), a day after the TSX closed at another record high.

The TSX .GSPTSE has been on a record-setting run this year and has gained over 19% year-to-date, outpacing the U.S. S&P 500 index's almost 13% rise.

The benchmark stock index's 12-month forward price-earning ratio, a closely watched stock valuation metric, has climbed to 16.45, its highest level since May 2021, according to data from LSEG Datastream.

The BoC reduced its key policy rate to a three-year low of 2.5% on Wednesday, saying it was prepared for further cuts if risks to the economy rose in the coming months.

The U.S. Federal Reserve also lowered its rate on Wednesday and indicated that it would steadily lower rates for the remainder of the year, with projections showing two more cuts for 2025.

Meanwhile, the BoC said that Canada should consider the benefits of stablecoin regulation and wants federal and provincial authorities to collaborate to help advance payment regulatory frameworks.

In commodities, gold XAU= edged higher with investors focused on U.S. policy path after the Fed action while copper CMCU3 rebounded on improving demand in Canada. Oil prices LCOc1, CLc1 dropped.

Investors will look to July retail sales data slated for later in the day for clues on consumer economic impact.

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