CANADA STOCKS-TSX futures edge lower as oil slips; eyes on inflation data

By Reuters News

Oct 19 (Reuters) - Futures tracking Canada's blue-chip stocks edged lower on Monday, as oil prices slipped following last week's sharp gains, while investors awaited domestic inflation data for clues on the interest rate path.

December futures on the S&P/TSX index slipped 0.16% at 05:50 a.m. ET (09:50 GMT).

  • Brent crude slipped 1.3% from a five-month high on profit taking as US waiver of sanctions on Russia improved the supply outlook

  • Still, with oil prices at $105 a barrel, the Bank of Canada expects to raise its quarterly inflation forecast significantly this month, the central bank Governor Tiff Macklem said on Saturday

  • Canada's September consumer price index (CPI) data is expected later in the day, with economists polled by Reuters anticipating a 0.2% rise in inflation.

  • Traders are pricing in a 35% chance of a rate hike next week, and nearly a 70% chance of a quarter point increase by year-end, according to LSEG data

  • Spot gold prices held firm as lower oil prices eased immediate concerns over inflation

  • Reliance Worldwide RWC.AX said on Monday that no rival bidder emerged during the "go shop process under Brookfield's BN.TO proposed acquisition of the Australian firm

  • Attention will also shift to Wall Street earnings from Meta Platforms META.O and Elon Musk-led Tesla TSLA.O and Spacex SPCX.O later this week

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