March 6 (Reuters) - Futures for Canada's main stock index edged lower on
Monday, setting the TSX up to snap a three-session winning streak, as commodity
prices weakened after top-consumer China set a modest growth target for the
year.
March futures on the S&P/TSX index were down 0.3% at 7:01 a.m. ET,
with their U.S. counterparts also edging lower.
The Toronto Stock Exchange's S&P/TSX composite index ended at its
highest closing level in more than two weeks on Friday, helped by upbeat data
from major energy importer China. On Monday, base metal and crude oil prices were in the red as China, over
the weekend set a lower-than-expected gross domestic product target of 5%.
Policy sources had recently told Reuters a range as high as 6% could be set. Investors are now awaiting Federal Reserve Chair Jerome Powell's testimony
as well as a monthly U.S. jobs report later this week.
Closer to home, traders expect the Bank of Canada to not hike rates during
its meeting on Wednesday, potentially making it the first major central bank to
hit pause on monetary tightening.
In company news, Panamanian President Laurentino Cortizo said late on Friday
talks between his government and Canada's First Quantum Minerals over
the operation of a major copper mine were in the final stretch, with only one
point still to be resolved.
COMMODITIES AT 7:00 a.m. ET
Gold futures : $1,856.8; +0.1% US crude : $78.49; -1.52% Brent crude : $84.52; -1.53% U.S. ECONOMIC DATA DUE ON MONDAY
January factory orders at 1000 a.m. ET
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TSX market report Canadian dollar and bonds report Reuters global stocks poll for Canada Canadian markets directory ($1 = 1.3602 Canadian dollars)
(Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh Kuber)
