April 9 (Reuters) - Futures for Canada's main stock
index were muted on Tuesday as investors remained cautious ahead
of the Bank of Canada's next interest rate decision later in the
week while climbing commodity prices kept declines in check.
June futures on the S&P/TSX index were flat at 7:00
a.m. ET (11:00 GMT), mirroring their Wall Street peers.
The Toronto Stock Exchange's S&P/TSX composite index
ended flat on Monday, as gains in financials were
offset by healthcare losses.
The Bank of Canada is set to announce its next monetary
policy decision on Wednesday, where the central bank is widely
expected to leave interest rates unchanged, in its third meeting
this year.
However, markets are pricing in a little over 65% bets of a
cut in June.
The last crucial data before the decision showed on Friday
that Canada's economy had shed a net 2,200 jobs in March, while
the unemployment rate increased to a 26-month high of 6.1%,
solidifying bets of a June cut.
On the commodities front, oil prices edged higher on Tuesday
after diminishing hopes that negotiations between Israel and
Hamas would lead to a ceasefire in Gaza, and on Mexico's plan to
remove more crude from the global market.
Gold prices hit a record high for an eighth consecutive
session with support from momentum-following funds and inflated
geopolitical tensions, while Shanghai copper hit a record high.
Across the border, monthly readings of key inflation data
are due later in the week that will further guide investor bets
on when the U.S. Federal Reserve could start easing borrowing
costs.
In Canadian corporate news, brokerage Stephens resumed
coverage of TFI International ( TFII ), while J.P.Morgan added
the transport and logistics company's U.S.-listed shares to its
U.S. Analyst Focus List.
COMMODITIES AT 7:00 a.m. ET
Gold futures: $2,363.9; +1.1%
US crude: $86.47; +0.1%
Brent crude: $90.49; +0.1%