Futures contracts linked to Canada's main stock index fell on Friday, hurt by falling crude oil prices, as investors focused on key employment figures in the country, due later in the day.
December S&P/TSX index futures were down 0.7% as of 6:08 a.m. ET (11:08 GMT).
Canada's energy sector could be under pressure as oil prices fell due to easing concerns over the Gulf of Mexico hurricane impacting oil and gas production in the UNITED STATES. [O/R]
The materials sector attracted attention as gold prices fell, poised for their biggest weekly decline in more than five months, as markets weigh up Trump's victory and its potential impact on the trajectory of US interest rates. [GOL/]
Copper prices also fell as the latest policy support from major consumer China fell short of market expectations. [MET/L]
Investors will be closely watching Canada's October unemployment rate at 8:30 a.m. ET for possible clues on the Bank of Canada's interest rate decision next month.
The central bank cut its key rates by 50 basis points last month, and traders see a 64% chance for a similar cut in December.
On Thursday, the US Federal Reserve cut interest rates by a quarter of a percentage point, while adding that Mr Trump's return would have no “short-term” impact on monetary policy.
The composite index reached a record closing level on Thursday, extending its rebound from the day before following Donald Trump's victory.
Stocks around the world mainly benefited this week from Mr. Trump's re-election due to his proposed tax cuts and easing of business regulations.
In its country, Lundin Mining published results for the third quarter below analysts' estimates.
RAW MATERIALS
Or : 2 688,6 $ ; -0,6 % [GOL/]
US crude: $71.13; -1.7% [O/R]
Brut Brent : 74,52 $ ; -1,5 % [O/R]
FOR NEWS FROM CANADIAN MARKETS, CLICK ON THE CODES:
TSX Market Report [.TO]
Canadian Dollar and Bonds Report [CAD/] [CA/]
Reuters Global Stock Poll for Canada
Canadian Markets Directory
($1 = 1.3887 Canadian dollars)
