(Reuters) – Futures tied to Canada’s main stock index rose slightly on Monday as investors remained on the sidelines ahead of Federal Reserve Chair Jerome Powell’s comments.
December futures on the S&P/TSX index were up 0.1% at 6:13 a.m. ET (10:13 GMT).
The composite index ended lower on Friday but notched its third straight weekly gain on the recent 50-basis-point interest rate cut in the United States.
The Fed is widely expected to cut rates further at its next two meetings later in the year and Powell’s speech, due at 01:55 p.m. ET, will be in focus for clues on it.
Investors will also assess S&P Global’s Canada manufacturing purchasing managers’ index (PMI) and Ivey PMI later in the week.
In Canada, inflation has reached 2% target of its central bank, which now aims to boost the domestic economy.
The Bank of Canada has already slashed its borrowing costs three times this year and is expected to trim for the fourth time at its October…
