Aug 21 (Reuters) - Futures tracking Canada's commodity-heavy stock index edged higher on Friday as gold rose, while investors awaited domestic retail sales data and assessed lingering stress in global bond markets.
September futures on the S&P/TSX index were up 0.3% at 6:17 a.m. ET, after the benchmark index logged a two-week low on Thursday.
Gold prices rallied against a softer dollar and the U.S. Treasury's bond buyback move. Spot gold added 1.4%, while silver was up 1.6%
Investors await domestic retail sales data, due at 8:30 a.m. ET, which could offer clues on the health of the Canadian consumer.
Money markets widely expect the Bank of Canada to keep interest rates unchanged at its next meeting, while pricing in a 60.8% chance of a rate hike in December, according to data compiled by LSEG.
Traders are also monitoring the lingering stress in global markets. U.S. Treasury yields resumed their climb after Wednesday's surprise Treasury intervention brought barely a day's relief from selling tied to inflation and fiscal concerns.
Oil prices were headed for second-straight weekly gains as the U.S. ramped up pressure on Iran. Brent crude futures added 0.1%, while WTI crude gained 0.2%.
In corporate news, Fairfax Financial (FFH.TO), a frontrunner to acquire the government's IDBI Bank (IDBI.NS), stake, is set to be allowed up to two years to consolidate its Indian bank holdings to smooth the acquisition, two sources familiar with the matter said.
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Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Shreya Biswas
