December futures on the S&P/TSX index were down 0.2% at 07:38 a.m. ET. The Toronto Stock Exchange’s S&P/TSX composite index closed at its highest level since June 9 on Thursday and is set to end the week higher. (TO)
Statistic Canada’s report due at 08:30 a.m. ET is expected to show that the economy added 5,000 jobs in November after a blowout 108,300 increase in October, while unemployment rate likely inched up to 5.3% from 5.2%.
The report would come ahead of the Bank of Canada’s policy meeting on Dec. 7, where traders are anticipating an 84.5% chance of a 25-basis-point rate hike to 4%.
Risk sentiment has been tepid for most parts of the year as investors fear aggressive policy tightening measures by central banks could trigger a global downturn. Still, the commodity-heavy TSX shed only 3.3% year-to-date.
U.S. stock index futures also slipped ahead of a closely watched non-farm payrolls data scheduled at 08:30 a.m. ET. [.N]
Gold prices dipped 0.3% in cautious trading, but were still bound for their second straight weekly gain on expectations of a moderation in the pace of U.S. rate hikes. [GOL/]
Canada’s largest pension fund CPP Investments (CPPI) is set to raise $372 million in its first “reverse inquiry” bond on Dec. 9, where lenders Royal Bank of Canada and CIBC would be the underwriters to the offer.
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Source: Economy - investing.com
