(Reuters) -Futures tracking Canada’s main stock index dipped on Monday as investors reined in big bets ahead of a busy week featuring Ukraine peace talks, a key U.S. central bank conference and domestic inflation data.
The futures on the S&P/TSX index fell 0.1% by 05:52 a.m. ET (0952 GMT), after a 0.5% gain last week for the S&P/TSX Composite Index index, helped by expectations of interest rate cuts in the United States. [.TO]
U.S. President Donald Trump will meet Ukrainian President Volodymyr Zelenskiy and European leaders later on Monday to advance peace negotiations.
The meeting follows Trump’s talks with Russian President Vladimir Putin in Alaska on Friday, which failed to produce a peace agreement.
Ahead of the Trump-Zelenskiy meeting, gold prices eked out modest gains, supported by lower U.S. Treasury yields. Oil prices rose as investors awaited more clues from the meeting. [GOL/] [O/R]
Another key event this week is the Federal Reserve’s annual economic policy symposium in Jackson Hole, Wyoming, on Friday, which investors will watch for clues on monetary policy.
According to the CME Group’s FedWatch tool, traders are pricing in an 84.8% likelihood for an interest rate cut in September.
In Canada, investors will monitor July inflation data due on Tuesday; a Reuters poll of economists expects the annual rate to slow to 1.7% last month.
A fall in domestic inflation could prompt the Bank of Canada to slash interest rates. The central bank left rates unchanged at its last meeting and signaled further cuts if the economy weakens and inflation stays contained.
The July housing starts data is due later in the day, and June retail sales figures on Friday.
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($1 = 1.3792 Canadian dollars)
(Reporting by Nikhil Sharma; Editing by Sahal Muhammed)
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