Aug 21 (Reuters) - Futures tracking Canada's main stock
index edged down on Thursday, mirroring Wall Street's moves, as
investors avoided risk ahead of the U.S. Federal Reserve's
three-day Jackson Hole symposium.
The futures on the S&P/TSX index fell 0.09% by
05:33 a.m. ET (0933 GMT), while futures linked to Wall Street's
benchmark S&P 500 also slipped 0.09%.
The annual Fed conference begins later on Thursday and will
host central bankers from around the world; investors will watch
Fed Chair Jerome Powell's speech on Friday for clues to upcoming
monetary policy moves.
A deteriorating labor market and President Donald Trump's
efforts to shake up Fed leadership have raised expectations for
U.S. policy easing.
Gold prices slipped as traders awaited Powell's remarks.
Copper prices also slipped alongside other base metals.
Oil prices rose due to signs of strong demand in the United
States and uncertainty over efforts to end the war in Ukraine.
Meanwhile, domestic investors will parse July producer price
data due at 8:30 a.m. ET. The release follows a softer inflation
report earlier this week, which bolstered expectations that the
Bank of Canada will resume its rate-cutting cycle.
The Canadian central bank has kept the benchmark rate
unchanged at 2.75% since March. Traders see at least one rate
cut later this year.
U.S. business activity data is also due on the day.
In corporate news, Corby Spirit and Wine ( CBYDF ) reported
an 8% growth in fourth-quarter revenue.
On Wednesday, gains in commodity-linked stocks helped the
S&P/TSX composite index end slightly higher,
countering losses in technology shares.
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($1 = 1.3880 Canadian dollars)