December futures on the S&P/TSX index were up 0.2% at 7:00 a.m. ET (1200 GMT), mirroring gains in their U.S. counterparts. [.N]

All eyes would be on the November U.S. consumer prices data due at 8:30 a.m. ET, which comes a day before the U.S. central bank is set to announce its decision on monetary policy, with consensus tiled towards the Fed keeps its rate steady.

According to economists polled by Reuters, the data is expected to show headline inflation remained unchanged month-on-month, with core CPI expected to advance 0.3%.

On the commodities front, prices of most base metals edged higher on a softer dollar, which also helped gold prices rise. [GOL/] [MET/L]

Crude oil prices slipped, giving up earlier gains, as concern over excess supply and slowing demand growth outweighed escalating supply risks in the Middle East after an attack by the Iran-aligned Houthis on a tanker. [O/R]

The Toronto Stock Exchange's S&P/TSX composite index ended marginally lower in the previous session, dragged lower by falling resources shares.

Among individual stocks to look out for, brokerage RBC upgraded Canada's largest insurer Manulife Financial to "outperform" from "sector perform".

J.P.Morgan upgraded Canada's biggest steelmaker Stelco Holdings to "overweight" from "neutral".

Rogers Communications said it has sold all of its shares in Cogeco and Cogeco Communications to Canada's second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) in a private deal for C$829 million ($610.68 million).

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,993.7; +0.5% [GOL/]

US crude: $71.12; -0.3% [O/R]

Brent crude: $75.74; -0.4% [O/R]

($1= C$1.3564)

(Reporting by Shashwat Chauhan in Bengaluru)