Futures contracts linked to Canada's main stock index fell on Tuesday, as lower metal prices weighed on it, as investors focused on key domestic results due later in the day and inflation data in the United States later this week.
December S&P/TSX index futures were down 0.4% as of 6:15 a.m. ET (11:15 GMT).
Canada's materials sector remained in the crosshairs as gold and copper prices fell more than 1% to a two-month low on a stronger dollar. [GOL/] [MET/L]
The energy sector also attracted attention as oil prices edged higher, with investors awaiting OPEC's monthly report for better price guidance. However, disappointment over China's latest stimulus package and concerns over a supply glut limited gains. [O/R]
The composite index ended higher on Monday as investors remained optimistic after the US presidential election.
Investors await U.S. consumer price inflation data due Wednesday and a parade of Federal Reserve speakers scheduled to speak this week, including Fed Chairman Jerome Powell on Thursday .
The US 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 the policies he proposes could stoke inflation and strengthen the dollar, resulting in lower rates. higher US interest rates for a long time.
Canada, the United States' second-largest trading partner, is particularly vulnerable to the 10% tariffs it is proposing on all imports.
Domestic investors will be looking at e-commerce giant Shopify's quarterly results, due later today.
On the corporate side, warehouse owner Segro will buy six Tritax EuroBox buildings in Germany and the Netherlands for 470 million euros ($499.1 million) in a deal with Brookfield Asset Management Ltd.
RAW MATERIALS
Or : 2595,9 $ ; -0,1% [GOL/]
US crude: $68.41; +0.54% [O/R]
Brent : 72,2 $ ; +0,52% [O/R]
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($1 = 1.3957 Canadian dollars)
