Nov 8 (Reuters) - Futures tied to Canada's main stock
index slipped on Friday, hurt by losses in crude prices, while
investors shifted their focus to key domestic jobs data due
later in the day.
December futures on the S&P/TSX index were down
0.7% at 6:08 a.m. ET (11:08 GMT).
Canada's energy sector could come under pressure as oil
prices fell due to reduced concerns about a hurricane in the
Gulf of Mexico impacting U.S. oil and gas output.
The materials sector grabbed focus as gold prices fell, set
for their biggest weekly fall in over five months, as markets
assessed Trump's victory and its potential impact on the U.S.
interest rate trajectory.
Copper prices also fell as the top consumer China's latest
policy support came below market expectations.
Investors will closely watch Canada's October unemployment
rate at 8:30 a.m. ET to get possible clues on the Bank of
Canada's interest rate decision next month.
The top bank slashed its key policy rates by 50 basis points
last month, and traders see a 64% chance for a similar reduction
in December.
On Thursday, the U.S. Federal Reserve cut interest rates by
a quarter of a percentage point, while also adding that Trump's
return would not have a "near-term" impact on monetary policy.
The composite index hit a record closing high on
Thursday as it extended its rally from a day before after Donald
Trump's victory.
Equities around the globe have mostly benefited this week
after Trump's reelection due to his proposed tax cuts and looser
regulations on corporations.
Back home, Lundin Mining ( LUNMF ) reported third-quarter
earnings below analysts' estimates.
COMMODITIES
Gold: $2,688.6; -0.6%
US crude: $71.13; -1.7%
Brent crude: $74.52; -1.5%
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($1 = 1.3887 Canadian dollars)