May 27 (Reuters) - Futures for Canada's main stock index moved higher on Monday, supported by higher commodity prices, while investors awaited U.S., Canada inflation data for more clues on the timing of interest rate cuts.
June futures on the S&P/TSX index were up 0.2% at 6:41 a.m. ET (10:41 GMT).
With the U.S. and UK markets closed for the day, trading activity is likely to be light across the board.
Meanwhile, the energy (.SPTTEN), opens new tab and materials (.GSPTTMT), opens new tab index are expected to rise at open, owing to higher prices of most commodities.
Investors braced for Canada's producer prices data for the month of April, due Tuesday, along with country's first-quarter GDP figures, scheduled for Friday.
The GDP data remains crucial ahead of Bank of Canada's June 5 monetary policy meeting, where traders expect the central banks to initiate interest rate cut with a probability of 61%. 0#BOCWATCH
U.S. inflation data, also due on Friday, could help traders assess the timing and numbers of possible rate cuts by the Federal Reserve this year.
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab ended higher on Friday, after domestic inflation data last week raised expectations for a June interest rate cut by the Bank of Canada.
COMMODITIES AT 6:42 a.m. ET
Gold futures : $2,345.9; +0.5%
US crude : $78.13; +0.5%
Brent crude : $82.54; +0.5%
($1= C$1.3654)
Reporting by Khushi Singh in Bengaluru
