This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEI9K0EK_L.jpg
Futures on the S&P/TSX index were down 0.6% at 6:47 a.m. ET (1047 GMT).
Wall Street futures also dropped with a rise in U.S. Treasury yields and Snap Inc (NYSE:SNAP)’s revenue warning for the busy holiday quarter that sparked jitters about runaway inflation hurting advertising demand. [.N]
With interest rate decisions from major central banks, including the Bank of Canada, due in the coming weeks and data pointing to stubbornly high inflation, concerns about aggressive monetary policy tightening by central banks have soared.
Traders are pricing in 71.2% odds of a 75-basis-point rate hike from the Bank of Canada at its policy meeting next week.
The growing rate hike fears set gold prices on track for a second straight weekly drop, while silver and copper prices also retreated. [GOL/] [MET/L]
Crude prices steadied, though, on as investors assessed the impact of sharp rate rises on energy consumption, offsetting hopes of higher Chinese demand. [O/R]
The Toronto Stock Exchange’s S&P/TSX composite index fell on Thursday, but is 1.4% higher on the week.
Investors will watch out for Canada retail sales data, due at 1230 GMT (8:30 a.m. ET), which is expected to show a slight rebound in August, compared to a 2.5% decline in July.
