March 26 (Reuters) - Futures tied to Canada's main stock index were subdued on Wednesday as traders awaited clarity on trade policy ahead of new U.S. tariffs scheduled for next week.

The futures on the S&P/TSX index were down 0.05% at 6:47 am ET (1047 GMT).

Markets had rallied on Monday after U.S. President Donald Trump indicated that not all trade levies would take effect on April 2, with some countries receiving exemptions, though specifics were lacking.

On Tuesday, Toronto's main stock index edged up to a near one-month high as investors bet that seasonality could soon begin working in the market's favor.

But uncertainty remains around Canada's tightly contested general election and the looming tariffs.

Focus will now also shift to Friday's release of Canada's January GDP figures and the U.S. Personal Consumption Expenditure report- the Federal Reserve's preferred measure of inflation.

In commodities, oil prices advanced as the U.S. intensified efforts to curb Venezuelan and Iranian exports, with a larger-than-expected drop in crude inventories providing support.

Gold prices rallied for a second consecutive session, driven by safe-haven demand amid mounting tariff concerns.

Meanwhile, copper prices eased under similar tariff worries, although a slight decline in the dollar helped mitigate losses.

In corporate news, Theratechnologies ( THTX ) received FDA approval for a new treatment targeting abdominal fat in HIV patients.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory (Reporting by Sanchayaita Roy in Bengaluru; Editing by Sahal Muhammed)