Nov 12 (Reuters) - Futures tied to Canada's main stock
index fell on Tuesday, as lower metal prices weighed, while
investors focused on major domestic earnings due on the day and
U.S. inflation data later in the week.
December futures on the S&P/TSX index were down
0.4% at 6:15 a.m. ET (11:15 GMT).
Canada's materials sector remained in focus as gold and
copper prices fell over 1% to a two-month low on a stronger
dollar.
The energy sector also drew attention as oil prices edged
higher, with investors awaiting OPEC's monthly report for
further price direction. However, disappointment over China's
latest stimulus plan and oversupply concerns limited gains.
The composite index ended higher on Monday as
investors remained bullish following the U.S. presidential
election.
Investors awaited U.S. consumer price inflation data due on
Wednesday and a parade of Federal Reserve speakers due to speak
this week, including Fed Chair Jerome Powell on Thursday.
The U.S. central bank is expected to cut rates by 25 basis
points in December. However, markets also expect the Fed to take
a cautious approach under the new Trump administration as some
of his proposed policies may stoke inflation and strengthen the
dollar, resulting in higher-for-longer U.S. interest rates.
Canada, the United States' second-biggest trading partner,
is especially vulnerable to his suggested 10% tariff on all
imports.
Domestic investors will parse quarterly earnings from
e-commerce giant Shopify ( SHOP ) due on the day.
In corporate news, Warehouse landlord Segro ( SEGXF ) would
buy six Tritax EuroBox ( TTAXF ) properties in Germany and the
Netherlands for 470 million euros ($499.1 million) as part of a
deal with Brookfield Asset Management Ltd. ( BAM )
COMMODITIES
Gold: $2595.9; -0.1%
US crude: $68.41; +0.54%
Brent crude: $72.2; +0.52%
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($1 = 1.3957 Canadian dollars)