The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren/File Photo Purchase Licensing Rights, opens new tab
Jan 21 (Reuters) – Futures for Canada’s main stock index fell on Tuesday amid uncertainties over tariffs under U.S. President Donald Trump, while investors awaited domestic inflation numbers.
March futures on the S&P/TSX index were down 0.1% at 6.44 a.m. ET (1144 GMT).
Trump did not immediately impose tariffs on Canada and Mexico after taking office on Monday, but later said he was thinking of imposing 25% duties starting Feb. 1, citing concerns over illegal immigration and fentanyl smuggling.
Canada sends a majority of its exports south of the border, including energy products.
Investors were also focused on domestic consumer price index (CPI) data, scheduled for release at 8:30 a.m. ET on Tuesday, that could potentially influence the Bank of Canada’s interest rate decisions.
Traders bet that there is an 80% probability of a 25 basis-point cut in interest rates this month.
The Toronto Stock Exchange’s S&P/TSX composite index
reached a five-week high on Monday as markets welcomed the temporary relief from U.S. trade tariffs.
In commodities, gold prices rose as investors sought safety amid uncertainties over Trump’s trade policies. But copper prices fell on tariff threats.
Oil prices , also fell as the market reacted to Trump’s plans to boost U.S. oil and gas production.
In corporate news, Canadian company Teck Resources
reported a 50% increase in its annual copper production for 2024 to 446,000 tonnes.
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Reporting by Ragini Mathur in Bengaluru; Editing by Sahal Muhammed
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