(Reuters) - Futures tied to Canada's main stock index slipped on Thursday on weak commodity prices after the U.S. Federal Reserve projected only one interest-rate cut this year.
S&P/TSX futures fell 0.3% by 6:33 a.m. ET (1033 GMT).
Fed Chair Jerome Powell said on Wednesday policymakers were content to leave rates where they are until the economy sends a clear signal that something else is needed - through either a more convincing decline in price pressures or a jump in the unemployment rate.
As investors digested the possibility of just one rate cut in December, U.S. futures were mixed and oil prices slid. [O/R]
With the dollar firm, spot gold and silver prices also dropped. [GOL/]
The Bank of Canada has already begun cutting interest rates, becoming the first G7 nation to do so.
BoC Governor Tiff Macklem said in a Montreal conference on Wednesday there is a limit to how far the central bank can diverge on rate cuts from the Fed, but it was not close to that limit.
Maclem is expected to speak at BIS Toronto Innovation Hub Centre at 1:00 p.m. ET.
On Wednesday, the Canadian benchmark index ended 0.3% higher and Wall Street's S&P 500 posted record closing highs after the much-awaited U.S. inflation report pointed to cooling price pressures. [.N]
In corporate news, Riot Platforms said Bitfarms' move to adopt a poison pill to thwart its acquisition attempt was "shareholder unfriendly" and highlighted lack of solid corporate governance standards.
COMMODITIES
Gold prices: $2,319.35; -0.12% [GOL/]
US crude: $77.71; -1.01% [O/R]
Brent crude: $81.86; -0.90% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.373)
(Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas)
