TSX futures slide ahead of Canada, US jobs data
June 7 (Reuters) -Futures for Canada's main stock index slipped on Friday, ahead of job data reports from Canada and the United States, which will provide investors more clues to gauge the interest rate paths of the countries' central banks.
June futures on the S&P/TSX index SXFcv1 were down 0.2% at 6:26 a.m. ET (10:26 GMT).
All eyes will be on the U.S. non-farm payrolls data, dueat 0830 ET, which is expected to show a slight uptick in the number of jobs added in the American economy in May, while Canada's report is likely to show a moderation in job additions.
The Bank of Canada this weekcut interest rates by 25 basis points to 4.75% for the first time in four years and said it would cut more if inflation continued to ease.
Amid widespread expectations of another rate cut in July,economists said the BoC will need to play very safe in its easing cycle and take a much slower path due to the high risks from persistent inflationary pressures.
The loonie CAD= fell against the U.S. dollar on Friday and was last at 1.3681.
Among sectors, materials and energy will grab focus once again as prices of gold and copper fell ahead of the U.S. jobs report, while oil steadied.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended higher on Thursday, led by gains in commodity-linked shares. .TO
Despite the gains in the last two sessions, the benchmark index is on track to log losses for the week.
Across the border, Wall Street's main indexes inched up before the release of the employment report. .N
In company news, Canada's biggest oil sands producers extended their supportfor a tax on carbon but see a proposed federal oil and gas emissions cap as "unnecessary legislation", the CEOs of these companiestold lawmakers in Ottawa on Thursday.
COMMODITIES AT 6:26 a.m. ET
Gold futures GCc2: $2,343.2; -1.5% GOL/
US crude CLc1: $75.66; +0.2% O/R
Brent crude LCOc1: $79.96; +0.1% O/R
($1= C$1.3681)
Reporting by Shubham Batra in Bengaluru; Editing by Shreya Biswas
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