June 2 (Reuters) - Futures tied to Canada's main stock
index edged higher on Monday despite lingering tariff-led
uncertainty, helped by gains in commodity shares.
The S&P/TSX index futures were up 0.2% at 6:13 am
ET (1013 GMT).
Gold prices rose more than 1% and oil prices rebounded more
than $1 a barrel. Copper prices also gained.
U.S. President Donald Trump said on Friday he planned to
increase tariffs on imported steel and aluminum to 50% from 25%
starting Wednesday.
The levies add to the existing tariffs on steel and aluminum
that Trump imposed when he came to power in January, deepening
the global trade war.
Meanwhile, data showed on Friday that Canada's economy grew
at an annualized rate of 2.2% in the first quarter, beating
estimates of a 1.7% gain.
The spotlight this week will be on the Bank of Canada's
interest rate decision due on Wednesday and the Canadian
employment report, expected Friday.
Comments from U.S. Federal Reserve Chair Jerome Powell will
be on tap later in the day.
Federal Reserve Governor Christopher Waller said on Monday
interest rate cuts remain possible for later this year, even
with the Trump administration's tariffs likely to push up price
pressures temporarily.
Canada's main stock index fell on Friday as energy and metal
mining shares lost ground. The index still posted its biggest
monthly rise since November, helped by easing global trade
tensions.
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