TSX futures fall on tariff jitters ahead of retail sales data

Futures tied to Canada's main stock index fell on Friday, mirroring losses in its Wall Street peers amid tariff concerns, while investors awaited domestic retail sales data.

The futures on the S&P/TSX index were down 0.26% at 0642 ET (1042 GMT), while Wall Street's S&P 500 E-minis fell 0.3%.

Toronto's main stock index ended marginally lower on Thursday after its biggest rise in over seven months the previous day, as investors weighed economic uncertainty and focused on the upcoming snap election.

The Bank of Canada Governor Tiff Macklem said on Thursday that due to uncertainty about U.S. tariffs, the bank had to adjust its monetary policy to become less forward-looking than normal.

The central bank is due to issue its quarterly monetary policy report on April 16, in which it will predict growth in the quarters and years ahead.

On Friday, focus will be on retail sales data, scheduled to be released at 08:30 a.m. ET. January retail sales are expected to fall 0.4%, as per economists polled by Reuters.

In commodities, oil prices fell, but were on track for a second consecutive weekly gain due to new U.S. sanctions on Iran and OPEC+'s latest production plan, which raised expectations of a tighter supply. [O/R]

Gold prices fell as the dollar firmed and investors booked profits after bullion hit three successive all-time peaks this week. [GOL/]

Copper prices also fell, overshadowed by stronger dollar following a media report that said China planned to expand its strategic reserves of key industrial metals. [MET/L]

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(Reporting by Sanchayaita Roy; Editing by Sahal Muhammed)