May 6 (Reuters) - Futures for Canada's main stock index
edged higher on Monday, indicating an upbeat start to the week,
as gold and oil prices moved higher, while investors awaited
more clues on the interest rate trajectory of central banks.
June futures on the S&P/TSX index were up 0.5% at
6:30 a.m. ET (10:30 GMT), mirroring gains in their Wall Street
peers.
Spot gold prices rose nearly 1%, deriving support
from a soft U.S. dollar, while Shanghai copper fell on lack of
clear demand improvement from the troubled Chinese property
market.
Oil futures climbed after Saudi Arabia hiked June crude
prices and as the prospect of a Gaza ceasefire deal appeared
slim, renewing fears of a widening conflict in the Middle-East.
The Toronto Stock Exchange's S&P/TSX composite index
ended 0.59% higher on Friday amid a broad rally led by
tech and healthcare shares.
Sentiment on Friday was also uplifted by data showing that
U.S. job growth slowed more than expected in April and annual
wage gains cooled, adding to bets of a September rate cut by the
Federal Reserve after its last decision to hold rates.
Data-wise, employment change numbers are due in Canada later
in the week, alongside a weekly report of jobless claims in the
United States.
Investors will carefully analyze Canadian economic data to
gauge inflation after Bank of Canada Governor Tiff Macklem
hinted at the possibility of a June cut if Canadian inflation
kept easing.
In corporate news, Reuters reported that China's Sinopec is
in discussions with Pembina Pipeline Corp ( PBA ) for a
liquefied natural gas (LNG) offtake agreement and equity stake
in the Canadian company's proposed Cedar LNG project.
COMMODITIES AT 6:30 a.m. ET
Gold futures: $2,328; +0.8%
US crude: $78.92; +1.0%
Brent crude: $83.65; +0.8%