TSX futures inched higher on Friday as the recent oil rally paused, easing worries about energy-driven inflation and helping push Canadian bond yields lower. Softer-than-expected U.S. payroll data also lent support to rate-sensitive stocks, as markets further scaled back expectations of a Federal Reserve rate hike this month.
The U.S. economy added 29,000 jobs in September, far below the consensus forecast of 90,000 and a sharp slowdown from the 133,000 jobs created in August.
In commodities, gold prices were little changed but remained on course for a second consecutive weekly decline, maintaining pressure on mining stocks.
Prime Minister Carney said Canada will fast-track approval of a proposed crude oil export pipeline to the West Coast, describing it as a key element of his strategy to diversify the economy and reduce its dependence on the United States.
