July 7 (Reuters) - Canadian stock index futures inched
higher on Tuesday as oil prices climbed, while investors awaited
the U.S. Federal Reserve's meeting minutes for clues on the
monetary policy path.
Futures tracking the S&P/TSX Composite index were up
0.35% at 7:39 a.m. ET.
* Oil prices rose as reports of attacks on vessels near the
Strait of Hormuz revived fears of disruptions to shipping
through the critical energy transit route.
* Brent crude futures gained 0.83% to $72.59 a
barrel, while U.S. West Texas Intermediate crude rose
0.67% to $69.01 a barrel.
* Gold slipped for a second consecutive session as a
stronger U.S. dollar weighed, while investors awaited minutes
from the Fed's June meeting, when it held interest rates
unchanged. Spot gold and silver prices fell 0.3%
and 1.4%, respectively
* A softer-than-expected jobs report and signs of easing
tensions in the Middle East have tempered expectations of
several U.S. interest rate increases this year.
* Traders are pricing in one 25 basis point rate hike from
the Fed by the end of this year, according to LSEG data.
* Meanwhile, the Bank of Canada is seen keeping interest
rates on hold this year, with the next policy decision due on
July 15.
* Canada's resource-heavy benchmark stock index fell on
Monday, pressured by a drop in gold and crude oil prices.
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