Canada Stocks: TSX futures dip ahead of Canada inflation data
25/06/2024 11:48
June 25 (Reuters) - Futures linked to Canadian stocks
were subdued on Tuesday, hurt by a decline in crude prices,
while investors turned cautious ahead of the domestic inflation
data that could further solidify expectations from the Bank of
Canada (BoC) to cut interest rates further.
September futures on the S&P/TSX index SXFcv1 were down
0.07% at 6:19 a.m. ET (1019 GMT).
All eyes will be on the Consumer Price Index (CPI) numbers
at 08:30 a.m. ET that could give assurance to Canadian
policymakers before they slash the borrowing costs in July.
Traders are pricing in a 65.6% chance of a 25-basis-points
rate cut by the Canadian central bank in its next policy meeting
on July 24. 0#BOCWATCH
BoC Governor Tiff Macklem on Monday said there is enough
slack in the Canadian labor market to allow for growth and job
creation even as inflation slows.
On the commodities front, oil prices LCOc1 , CLc1 slipped
after rising in the previous session, as investors await U.S.
consumer price data due later this week. O/R
Copper was marginally up as the U.S. dollar eased slightly
but subdued demand in China kept gains in check. On the flip
side, gold prices XAU= remained muted ahead of key U.S.
inflation data. GOL/ MET/L
Wall Street futures were mixed, with S&P and Nasdaq futures
rising, as AI chipmaker Nvidia recovered in premarket trading
after falling about 13% in the last three sessions. .N
In corporate news, French renewable power producer Neoen SA
NEOEN.PA signed a share purchase agreement for the acquisition
of a majority stake by asset management firm Brookfield
BAM.TO .
COMMODITIES
Gold XAU=: $2336.06; +0.13% GOL/
US crude CLc1: $81.28; -0.43% O/R
Brent crude LCOc1: $85.63; -0.44% 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 EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1 = 1.3653 Canadian dollars)
(Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay
Kishore)
((Nikhil.Sharma@thomsonreuters.com;))