Canadian futures rise as investors await U.S. payrolls data

Canadian stock index futures inched up on Thursday, as gold prices gained ground on easing inflation fears, while investors awaited the U.S. payrolls report for clues on the Federal Reserve's policy path.Futures on the S&P/TSX index (SXFc1) was mostly flat at 6:49 a.m. ET. Domestic markets were clo…

Futures on the S&P/TSX index (SXFc1) was mostly flat at 6:49 a.m. ET. Domestic markets were closed on Wednesday for Canada Day.

The U.S. non-farm payrolls report is due at 8:30 a.m. ET, with investors watching for signals on the health of the labor market and monetary policy path.
Economists expected the data, expected to show a slight cooling in jobs growth, to still keep a September interest rate hike from the Federal Reserve on the table amid rising inflation from the Middle East conflict.
Iran and the U.S. concluded a round of indirect talks in Doha on Wednesday without any clear breakthrough toward a lasting peace agreement, still oil prices slid as supply concerns around Strait of Hormuz eased.
Brent crude ICEEUR:BRN1! fell 1.3% to $70.64 a barrel.
Spot gold TVC:GOLD and silver BIST:XAGUSD1! were up 0.8% and 1.1%, respectively, as inflation concerns eased with slipping oil prices.
On the trade front, the U.S. extension of U.S.-• On the trade front, the U.S. denied an extension of the U.S.-Mexico-Canada Agreement for 16 years without changes. The decision keeps the agreement in place for another 10 years with annual reviews before it expires, unless the three countries agree to renew it with changes.