Futures for Canada’s main stock index advanced on Friday, tracking a surge in commodity prices, while investors awaited an employment reading for more clues on the monetary policy path of the country’s central bank.
June futures on the S&P/TSX index were up 0.7%, mirroring gains in their Wall Street peers.
Spot gold prices rose over 1% and were on track for their best week since early April, while nonferrous metals, including copper also advanced, fuelled by risk-on sentiment and short-covering.
Global benchmark Brent hovered above $84 a barrel after data this week signalled growing demand in the U.S. and China while the festering conflict in the Middle East added support.
Meanwhile, data on Thursday showed that the number of Americans filing new claims for unemployment benefits increased more than expected in last week, uplifting investor sentiment around interest rate cuts in the year.
Wall Street indexes closed up in the previous…
