Gold prices fell but held close to the previous session's highs, set for a weekly gain helped by bets that the Federal Reserve could soon pause interest rate hikes. [GOL/]
Oil prices were broadly flat on the week as concern over demand growth was balanced by Saudi output cuts. [O/R]
June futures on the S&P/TSX index were down 0.3% at 6:48 a.m. ET, after the benchmark index ended 0.2% lower in the previous session even as the U.S. stocks closed higher.
On investors' radar will be Canada's employment report, due at 8:30 a.m. ET, expected to show that the country added fewer jobs in May and unemployment rate ticked up compared to the previous month.
Bank of Canada's deputy governor Paul Beaudry on Thursday said that surprisingly strong household spending in the first quarter and stubbornly high core inflation were among the top reasons the Bank of Canada hiked rates after a four-month pause.
On Wednesday, the central bank raised its benchmark rate to a 22-year high of 4.75%.
Money markets see a roughly 80% chance of another rate hike next month and are pricing in further tightening by September.
Among stocks, Brookfield Asset Management said it would buy payments provider Network International for 2.2 billion pounds ($2.76 billion) in cash, as it expands its payments business in the Middle East and Africa.
U.S. stock index futures slipped on Friday, a day after the benchmark S&P 500 marked a 20% rally from lows, while inflation data and U.S. monetary policy decision due next week kept investors on their toes.[.N]
COMMODITIES AT 6:48 a.m. ET
Gold: $1,962.79; -0.25% [GOL/]
US crude: $71.31; +0.03% [O/R]
Brent crude: $76.01; +0.07% [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
Canadian markets directory
($1= C$1.33)
(Reported by Shubham Batra in Bengaluru; Editing by Shweta Agarwal)
