Canadian stocks may open with mixed sentiments on Friday morning, and trading is expected to remain constrained by a lack of new catalysts.
Market sentiment is likely to stay cautious due to ongoing concerns regarding the outlook on Federal Reserve interest rates.
The data on Canadian housing prices for April is set to be released at 8:30 AM ET.
On Thursday, Canadian stocks remained subdued for most of the session, as investors largely refrained from making significant moves. The S&P/TSX Composite Index closed with a slight gain of 15.07 points, or 0.07%, at 22,299.83, trading within a narrow range between 22,260.71 and 22,330.02.
Asian markets displayed mixed results on Friday. Positive sentiment from anticipated stimulus measures in China helped balance concerns about interest rates and mixed economic data from the region. China's central bank took steps to support the struggling property sector, alleviating some concerns about economic recovery.
Conversely, European markets are trending downwards, driven by interest rate concerns after three Federal Reserve officials suggested that the U.S. central bank should maintain higher borrowing costs for an extended period.
In commodities, West Texas Intermediate Crude oil futures have edged up slightly to $79.26 per barrel.
Gold futures have increased by $8.70, or 0.36%, to $2,394.20 per ounce, while Silver futures have risen by $0.164, or 0.55%, to $30.040 per ounce.
