TSX futures flat as crude losses eclipse gold gains
July 23 (Reuters) -Futures linked to Canada's main stock index were subdued on Tuesday as a decline in crude prices offset the gains in gold, while investors kept a tab on the Bank of Canada's monetary policy meeting due on Wednesday.
The S&P/TSX 60 futures SXFcv1 were flat as of 06:26 a.m. ET (1026 GMT).
Investors expect the Canadian central bank to trim its rates once again, especially after last week's favourable inflation and retail sales data.
Money markets see a 92.2% probability of a 25 basis-points rate cut in Wednesday's meeting and expect the BoC to cut the rates one more time in the latter half of the year. 0#BOCWATCH
The Toronto Stock Exchange'smaterials sector was set to grab focus, helped by rising gold prices XAU= as investors this week awaited U.S. economic data for clarity on rate cuts by the Federal Reserve. GOL/
Copper prices, however, dropped to a more than three-month low amidworries over fragile demand outlook from China. MET/L
Oil prices declined as hopes of a ceasefire in Gaza countered the impact of the hints about a September rate cut from a European Central Bank official. O/R
Across the border, Wall Street futures were down ahead of the results from some Big Tech firms such as Alphabet GOOGL.O and Tesla TSLA.O, while investors reassessed the odds of Republican presidential candidate Donald Trump's win. .N
In corporate news, Canadian financial services firm Goeasy GSY.TO announced thepricing of a previously declared offering of senior unsecured notes and upsized itto $200 million.
COMMODITIES
Gold XAU=: $2406.84; +0.36% GOL/
US crude CLc1: $78.33; -0.1% O/R
Brent crude LCOc1: $82.32; -0.1% 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 EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1 = 1.3761 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
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