CANADA STOCKS-TSX futures muted as gold weakness offsets oil gains

By Reuters News2 hours ago Updated

Oct 27 (Reuters) - Futures tracking Canada's blue-chip stocks were muted on Tuesday, as a slight rise in oil prices was countered by a dip in gold, while investors awaited crucial monetary policy decisions due this week.

December futures on the S&P/TSX index were up 0.01% at 6:19 a.m. ET (1019 GMT) in light trading volumes.

Oil prices rose slightly after retreating from a nearly six-month high in the previous session, as the chance of talks in Tehran eased fears of a broader Middle East supply shock, while renewed Houthi attacks on Saudi Arabia highlighted persistent risks O/R
Spot gold eased 0.56%, weighed down by a firmer dollar, while spot silver slid 1.5% GOL/
TSX's energy index .SPTTEN had ended the previous session up 0.4%, while materials .GSPTTMT, which includes Canadian miners, rose 0.7%
This week, attention will also be on the US Federal Reserve's policy meeting, where the central bank is widely expected to hold interest rates steady, according to CME Group's FedWatch tool
The Bank of Canada meets on Wednesday, with markets pricing in a 78% chance of a 25-basis-point hike, according to data compiled by LSEG
Meanwhile, the US and Canada are working on a deal to ease US tariffs on Canadian steel and autos, various sources in the two countries said, as they try to repair relations that soured after trade talks broke down in August
Canada's main stock index rebounded on Monday, after marking a weekly decline on Friday
The rebound was powered by financial and resources stocks after British Columbia's provincial election result raised production prospects for oil and gas companies
Among companies, electronic equipment company Celestica CLS.TO beat third-quarter revenue and profit estimates