TSX futures edge lower after Canada and US jobs data
Canadian equity futures edged lower after Canada employment fell 41,700 in August versus a 15,000 forecast increase. US payrolls rose 162,000 versus consensus, lifting rate-hike expectations; gold and oil prices also fell.
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Canadian equity futures edged lower on Friday following the release of domestic and US employment data.
Employment in Canada declined by 41,700 in August, missing expectations for a 15,000 increase and following a 75,100 gain in July.
The weak labor data could support a more dovish stance from the BoC.
However, despite keeping rates unchanged on Wednesday, Governor Macklem said policymakers were prepared to raise rates if inflation remained elevated.
Meanwhile, US payrolls increased by 162,000, about three times the consensus estimate.
The stronger-than-expected report boosted expectations for a September Fed rate hike, putting pressure on credit-sensitive stocks.
Gold prices fell, weighing on mining shares that have supported the index in recent months.
Oil prices also declined, pressuring energy producers while offering some relief on energy-driven inflation concerns.