April 3 (Reuters) - Futures for Canada's main stock
index dipped on Wednesday as cautious investors awaited further
clues about the U.S. interest rate cut trajectory, while a
decline in gold prices also weighed.
June futures on the S&P/TSX index were down 0.3% at
7:06 a.m. ET (11:06 GMT), mirroring losses in their Wall Street
peers.
The Toronto Stock Exchange's S&P/TSX composite index
ended 0.5% lower on Tuesday, as uncertainty around
interest rate cuts weighed on the communication services and
real estate sectors.
The index had pulled back after notching a series of record
closing highs.
Meanwhile, gold prices took a breather after notching up yet
another record high after growing tensions in the Middle East
and U.S. interest rate cut hopes continued to push investors to
the safe haven.
On the bright side, Shanghai copper prices rallied to an
all-time high, boosted by a bullish demand outlook and supply
worries.
Oil prices were stable as investors mulled supply risks
stemming from ongoing global conflicts.
On the data front, a March reading of services sector data
in the U.S. is due at 9:45 a.m. ET, that could provide some more
insights into U.S. inflation in the run-up to the crucial
non-farm payrolls data expected on Friday.
Investors will also monitor Federal Reserve Chair Jerome
Powell's speech on the monetary policy outlook in the San
Francisco Bay area at 12:10 p.m. ET on Wednesday.
In corporate news, Wood products firm West Fraser Timber ( WFG )
and Mercer announced the dissolution of Caribo
Pulp and Paper joint venture, with West Fraser to continue as
sole owner/operator of the mill.
COMMODITIES AT 7:06 a.m. ET
Gold futures: $2,280.2; -0.4%
US crude: $85.74; +0.7%
Brent crude: $89.54; +0.7%