May 26 (Reuters) - Futures for Canada's main stock index
rose on Monday after U.S. President Donald Trump extended the
deadline for trade talks with the European Union, giving a
temporary respite to investor concerns over his erratic trade
policies.
June futures on the S&P/TSX index were up 0.8% at
6:34 a.m. ET (1034 GMT).
Trump backed away from his threat to impose 50% tariffs on
imports from the European Union to July 9, after recommending
the levy from June 1, to allow for talks between Washington and
the 27-nation bloc to produce a deal.
The sweeping tariffs imposed by Trump since April 2 and the
subsequent pauses on some of them have generated uncertainty
among investors and companies globally.
Global market sentiment had steadied after Washington's
fresh deal with the UK and a temporary agreement with China, but
Trump's latest move was a reminder that the tariff storm isn't
over.
On the data front is Statistics Canada's first-quarter GDP
data on May 30, ahead of the central bank's interest rate
decision next week.
In commodities, gold prices fell following Trump's delay on
EU tariffs, while oil prices and prices of metals in London
rose.
Canada's main stock index edged higher on Friday as gold
mining shares rallied, but the move was limited as trade
tensions resurfaced and investors worried about the recent
upward move in long-term borrowing costs.
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(Reporting by Sanchayaita Roy in Bengaluru; Editing by Varun H
K)