(Reuters) -Futures for Canada’s main stock index were muted on Friday, as safe-haven gold fell to a near one-month low, ahead of key U.S. inflation data due later in the day.
Futures on the S&P/TSX index were up 0.04% at 06:26 a.m. ET (1026 GMT).
Gold fell more than 1% to its lowest level in nearly a month as a truce between Iran and Israel, brokered earlier this week by U.S. President Donald Trump, held. Oil prices, rose on the day. [O/R] [GOL/]
The Personal Consumption Expenditures report, the U.S. Federal Reserve’s preferred gauge of inflation due at 8:30 am ET on the day, will be closely assessed for clues on the Fed’s rate trajectory.
Traders now price in a 20% chance of a rate cut in July, compared with 12.5% last week, according to CME Group’s FedWatch tool.
Global investor sentiment was lifted after a White House official said late on Thursday that Washington has reached an agreement with China on how to expedite rare earths shipments to the U.S.
Toronto’s commodity-heavy S&P/TSX composite index ended on a record high on Thursday as copper prices jumped and investors grew optimistic that the Fed would resume its easing campaign.
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(Reporting by Sukriti Gupta and Twesha Dikshit in Bengaluru; Editing by Sahal Muhammed)
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