June futures on the S&P/TSX index were flat at 7:03 a.m. ET.
The Fed is widely expected to raise rates by 25 basis points at its policy rate announcement at 2:00 p.m. ET (1800 GMT), with growing hopes for a pause in further hikes.
Adding to the pressure on futures for the commodity-heavy index, oil prices continued their downward trend as investors fretted about the health of the U.S. economy. [O/R]
The Toronto Stock Exchange's S&P/TSX composite index fell on Tuesday as a sharp drop in oil prices dragged down energy shares.
In company news, gold miner Barrick Gold Corp beat Wall Street expectations for first-quarter profit, as higher prices of the metal outweighed a decline in production.
Retailer Loblaw Companies Ltd reported a 6% rise in first-quarter sales, helped by strong demand for essential goods, including groceries and drugs.
Barclays downgraded luxury parka maker Canada Goose Holdings Inc to "equal-weight" from "overweight".
COMMODITIES AT 7:03 a.m. ET
Gold futures: $2,025.2; +0.09% [GOL/]
US crude: $69.37; -3.2% [O/R]
Brent crude: $73.06; -3.0% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1 = 1.3626 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi Majumdar)
