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CANADA STOCKS-TSX futures retreat ahead of inflation data

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Futures for Canada’s main stock index fell on Tuesday as investors turned cautious after hotter-than-expected domestic producer prices data raised the risk of an upside surprise to the inflation data later in the day. All eyes will be on Canada’s consumer price index (CPI) data due at 8:30 a.m. ET, for clues on the central bank’s policy outlook. Money market participants see the Bank of Canada to cut interest rates by 60 basis points in 2024, with the first rate cut likely in July.

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