June 17 (Reuters) – Futures linked to Canada’s main stock index fell on Monday, weighed down by declining commodity prices, while uncertainty set in among investors as they awaited U.S. data and comments from Federal Reserve officials scheduled this week.
S&P/TSX futures dipped 0.36% by 6:37 a.m. ET (1037 GMT).
Wall Street futures were flat, after five straight record-high sessions on Nasdaq last week on gains in technology stocks.
Oil prices marginally slipped , after downbeat economic data in China offset hopes for a boost in demand from the summer driving season in the northern hemisphere.
Gold and silver prices declined against a firm dollar ahead of U.S. economic numbers and comments from Fed officials clarifying the rate-cut timeline.
The Bank of Canada said earlier this month it can make more rate cuts if inflation continues to ease. The BoC has also noted it can diverge from the U.S. Fed, which it traditionally tracks, in terms of monetary policy.
On Friday, the resource-heavy S&P/TSX composite index (.GSPTSE), opens new tab dropped 0.3% to a three-month low, while traders favoured technology shares over the financial and energy sector.
Investors will now be looking at Canadian housing starts data scheduled for release at 08:15 a.m. ET.
In corporate news, Solaris Resources (SLS.TO), opens new tab filed for mixed shelf offering of up to $200 million, as per regulatory filings.
COMMODITIES AT 6:58 a.m. ET
Gold futures : $2323.3; -0.59%
US crude : $78.32; -0.17%
Brent crude : $82.51; -0.13%
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($1 = 1.3742 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
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