CANADA STOCKS-TSX futures flat ahead of Macklem, Powell speeches

BY Reuters | ECONOMIC | 02/07/23 07:25 AM EST

Feb 7 (Reuters) - Futures for Canada's main stock index were flat on Tuesday as investors looked for clues on the interest rate-hike trajectory ahead of speeches from both U.S. Federal Reserve chair and the Bank of Canada's governor due later in the day.

March futures on the S&P/TSX index were flat at 7:01 a.m. ET (1201 GMT).

The Toronto Stock Exchange's S&P/TSX composite index ended down 129.42 points, or 0.6%, at 20,628.92, its lowest closing level since Jan. 30.

The BoC's governor, Tiff Macklem, will be speaking at the CFA Society in Quebec. The remarks come after the BoC's survey showed on Monday that market participants expected the central bank to cut interest rates by a half a percentage point to 4% by December.

The BoC will also be releasing minutes from its monetary policy meeting in January for the first time in its history on Wednesday.

Across the border, U.S. futures inched higher ahead of Fed chair Jerome Powell's speech, with investors awaiting clues on how long the interest rates will be kept higher.

Meanwhile, Canada's trade balance data for December is due at 08:30 a.m. ET.

In company news, a U.S. judge on Monday ordered regulators to reconsider part of the permit approving Lithium Americas Corp's (LAC) Thacker Pass lithium mine project in Nevada, while rejecting claims that the project would cause unnecessary harm to the environment or wildlife.

In earnings, exchange operator TMX Group (TMXXF) reported better-than-expected fourth-quarter profits, but missed market expectations on revenue.

Transportation company TFI International (TFII) reported its fourth-quarter results, with both earnings and revenue falling below market expectations.


Gold futures: $1,127.7; -0.06%

US crude: $75.33; +1.66%

Brent crude: $82.16; +1.46%


International trade data for December due at 08:30 a.m. ET (Reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel)

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