(Reuters) – Futures tracking Canada’s resource-heavy stock index was flat on Wednesday as investors awaited inflation data for clues on the pace of monetary policy tightening.
Canadian consumer prices are expected to have risen by 0.7% in October after a 0.1% rise in the previous month, as per a Reuters poll of economists, while annual inflation is forecast to have remained unchanged at 6.9%.
The data will be released at 08:30 a.m. ET.
December futures on the S&P/TSX index were up 0.02% at 07:26 a.m. ET.
Traders were also on the look out for U.S. retail sales data for further cues on the strength of the U.S. economy. Target Corp fell 13% after the retailer forecast a surprise drop in holiday-quarter sales.
U.S. stock index futures mostly slipped following the disappointing results and as investors assessed the latest developments following reports of a missile landing in Polish territory near Ukraine. [.N]
Loblaw Cos Ltd surpassed Wall Street estimates for third-quarter revenue as the Canadian retailer credited robust demand for groceries and drugs despite higher prices.
COMMODITIES AT 7:26 a.m. ET
Gold futures: $1,785.3; +0.50% [GOL/]
US crude: $86.78; -0.16% [O/R]
Brent crude: $94.04; +0.18% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.33)
(Reporting by Johann Cherian in Bengaluru; Editing by Shinjini Ganguli)
