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September futures on the S&P/TSX index were largely unchanged at 7:05 a.m. ET (1105 GMT), after finishing the week flat on Friday.
Canada’s second-quarter gross domestic product report, due later in the week, is likely to show a sharp slowdown in domestic economic growth, a Reuters poll of economists showed, which could lead the Bank of Canada to put a pause on interest rate hikes despite recent hotter inflation data.
Silver prices fell 0.1% in early hours, while gold was largely subdued following keynote speeches by major central bankers at the Jackson Hole symposium on Friday. [GOL/]
Crude prices steadied, while copper prices advanced after China’s finance ministry said in a brief statement on Sunday it was reducing the 0.1% duty on stock trades “in order to invigorate the capital market and boost investor confidence”. [O/R] [MET/L]
The Toronto Stock Exchange’s S&P/TSX composite index ended higher on Friday, lifted by gains in energy stocks. However, the index is set to record its worst monthly performance for August in last eight years as elevated bond yields and negative sentiment around top commodities consumer China weighed on the resources-heavy index.
Investors are also awaiting earnings from major Canadian banks, including Bank of Montreal, Bank of Nova Scotia and National Bank of Canada (OTC:NTIOF), reporting this week.
In the United States, eyes would be on the August non-farm payrolls report due Friday. Wall Street futures edged higher on Monday. [.N]
COMMODITIES AT 7:03 a.m. ET
Gold futures: $1,913.1; +0.1% [GOL/]
US crude: $79.92; +0.1% [O/R]
Brent crude: $84.4; -0.1% [O/R]
($1= C$1.36)
