CANADA STOCKS-TSX futures rise as Trump delays EU tariffs

May 27 (Reuters) - Futures linked to Canada's main stock index surged on Tuesday, tracking gains in global equities, as investors embraced U.S. President Donald Trump's decision to delay his proposed tariffs on imports from the European Union.

June futures on the S&P/TSX index SXFcv1 were up 0.8% at 5:42 a.m. ET (0942 GMT).

Trump on Sunday backed away from his threat to impose 50% tariffs on European Union shipments between June 1 and July 9 after European Commission President Ursula von der Leyen said the 27-nation bloc needed more time to produce a deal.

Canada's main stock index rose to a record high on Monday, with the technology sector leading broad-based gains as investors cheered a cooling in global trade tensions.

However, trading volumes were lower than usual due to the U.S. markets' Memorial Day holiday.

The yield on 30-year U.S. Treasuries, which affect anything from U.S. government borrowing costs to home mortgage rates, dropped to its lowest level in a week.

In Canada, the government's debt issuance is projected to exceed pandemic-era record highs this fiscal year, which could drive up interest rates.

Investor focus will be on Statistics Canada's first-quarter GDP data that is due on Friday, ahead of the central bank's interest rate decision next week.

Speeches from a slew of Federal Reserve policymakers and Friday's U.S. core PCE price index are also on the radar this week, which could provide clues on the rate outlook for the biggest economy in the world.

In commodities, gold prices slipped and London metals edged lower, while oil prices were little changed.

In corporate news, Canadian lender Bank of Nova Scotia BNS.TO reported a fall in second-quarter profit.

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