July 15 (Reuters) - Futures for Canada's main stock
index were subdued on Monday, as a stronger dollar weighed on
gains of oil and metal prices, after higher bets of Donald Trump
winning the U.S. presidential elections in November following an
assassination attempt.
The S&P/TSX 60 futures were down 0.08% by 07:14
a.m. ET (1114 GMT). The benchmark index hit a record
high on Friday.
Dollar got a boost after an assassination attempt on Donald
Trump on Saturday that compelled markets to raise odds of the
former U.S. President winning elections in November. Under
Trump, markets expect U.S. to adopt hawkish trade policy and
looser regulation.
The energy sector was set to remain in focus as oil futures
gained on political instability in the U.S. and the Middle East,
while downward pressure by a robust dollar and poor demand
outlook in China kept gains in check.
Gold prices gained as dollar firmed, while markets awaited
economic data and comments from U.S. Federal Reserve officials
for further clues on rate-cut path. Meanwhile, copper prices
fell on a stronger dollar and lacklustre economic data from
China.
Markets will monitor New York state manufacturing data at
8:30 a.m. ET. Focus will also be on U.S. Federal Reserve Chair
Jerome Powell's as well as San Francisco Fed President Mary
Daly's comments later in the day.
Back home, investors will assess manufacturing sales and
wholesale trade numbers expected at 8:30 a.m. ET. However, the
domestic market will keep its eye on key inflation data on
Tuesday.
The Bank of Canada will host its next policy meeting on July
24 and the traders are expecting a 74% chance of another cut by
the Canadian central bank.
In corporate news, iron ore mine operator Cleveland-Cliffs ( CLF )
to acquire Canadian steelmaker Stelco Holdings ( STZHF )
for C$70 per share in a deal valued at C$3.4 billion.
COMMODITIES
Gold: $2413.95; +0.11%
US crude: $82.28; +0.1%
Brent crude: $85.11; +0.1%
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($1 = 1.3632 Canadian dollars)