Jan 19 (Reuters) - Futures tracking Canada's main stock index edged up on Friday, as metal prices gained, while investors awaited economic data, due later in the day, for clues on the Bank of Canada's (BOC) monetary policy path.
March futures on the S&P/TSX index were up 0.1% at 7:36 a.m. ET (1236 GMT).
Gold drifted higher on Friday, buoyed by a weaker U.S. dollar, but was set to log its biggest weekly decline in six after the Federal Reserve countered wider market expectations of an early interest rate cut.
Copper prices rebounded from the previous session's six-week low supported by technical factors and lower availability of stocks.
Domestic retail sales data, which are scheduled at 8:30 a.m. ET, could offer insights on when the BOC could start cutting interest rates. The central bank is set to meet in the upcoming week.
Money market participants have pared bets to over 21% odds of a cut in borrowing costs by the BoC in March, while a majority stands on unchanged interest rates. 0#BOCWATCH
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab ended Thursday 0.3% higher at 20,756.73, boosted by industrials and consumer staples sectors.
On the corporate front, Royal Bank of Canada (RY.TO), opens new tab said it plans to raise C$750 million ($556.17 million) by issuing preferred shares to certain institutional investors.
Richelieu Hardware (RCH.TO), opens new tab was downgraded to "sector perform" from "outperform" by the National Bank of Canada after the specialty hardware manufacturer reported its fourth-quarter results.
COMMODITIES AT 7:36 a.m. ET
Gold futures : $2,035.4; +0.7%
US crude : $74.06; flat
Brent crude : $78.97; -0.2%
Reporting by Purvi Agarwal in Bengaluru; Editing by Tasim Zahid
