CANADA STOCKS-TSX futures steady as investors await key employment data
Jan 9 (Reuters) - Futures for Canada's main stock index were flat on Thursday as investors awaited key employment numbers from Canada and the U.S. for clues on the countries' rate trajectories.
March futures on the S&P/TSX index SXFcv1 were up 0.01% at 6.50 a.m. ET (1150 GMT).
All eyes will be on U.S. nonfarm payrolls data, due on Friday, as it is a key indicator for markets to gauge the inflation direction and policy rate path of the Federal Reserve.
The Fed signaled a more cautious pace of rate cuts at its last monetary policy meeting, and traders now expect the first trim this year in either May or June, according to the CME FedWatch Tool.
Back home, domestic employment figures, also due on Friday, will set the tone for policy easing by the Bank of Canada.
The Toronto's composite index .GSPTSE ended higher on Wednesday after two straight days of declines, due to gains led by technology and metal mining shares.
A report on Wednesday said that U.S. President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries.
The former president has threatened to impose 25% tariffs on imports from Canada, which sends a majority of its exports south of the border.
This comes against the backdrop of Canadian Prime Minister Justin Trudeau's recent announcement that he would resign in coming months.
Among commodities, gold prices XAU= hovered near a four-week high on Thursday, supported by safe-haven demand. GOL/
Oil prices LCOc1, CLc1 also rose on firm winter fuel demand expectations. O/R
In corporate news, Canadian Natural Resources CNQ.TO projected increased production for 2025, as it bets on higher demand amid tight oil supplies.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
(Reporting by Ragini Mathur; Editing by Varun H K)
((Ragini.Mathur@thomsonreuters.com;))
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