Sept 23 (Reuters) - Futures tied to Canada's main stock
index dipped on Monday after last week's gains as cautious
investors awaited domestic and U.S. economic data this week that
could drive monetary policy decisions in the two countries.
December futures on the S&P/TSX index were down
0.06% at 6:14 a.m. ET (10:14 GMT).
The composite index ended last week with a record
closing high, boosted by shares of gold miners and uranium
producers.
While investor sentiment globally remains buoyed by the
50-basis-point U.S. interest rate cut last week, focus has
shifted to upcoming data that could provide clues on the Federal
Reserve's easing cycle ahead.
A preliminary survey on U.S. manufacturing and services
activity for September is due at 09:45 a.m. ET. The core
personal consumption expenditures (PCE) index for August, the
Fed's preferred inflation measure, is due on Friday.
Traders widely expect another 75-basis-point trim over the
rest of this year.
In Canada, investors will closely watch gross domestic
product (GDP) numbers for July on Friday. The Bank of Canada is
unanimously expected to cut borrowing costs further at its
October meeting, but traders are debating over the size of rate
cuts.
In a potential boost to Canadian energy stocks, oil prices
edged higher on Monday after last week's U.S. rate cut and a dip
in U.S. crude supply in the aftermath of Hurricane Francine.
Gold prices steadied after hitting a record high. Meanwhile,
copper prices nursed losses after recording early gains.
In corporate news, Canada-based investment issuer Alset AI
Ventures ( ALSCF ) said Morgan Good resigned as the company's CEO
and director.
COMMODITIES
Gold: $2,622.83; +0.03%
US crude: $71.12; +0.2%
Brent crude: $74.57; +0.1%
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($1= C$1.3553)