FX.co ★ TSX Futures Edge Lower Ahead of Jobs Data

Canadian stock futures edged lower on Friday after the TSX was caught in an AI-driven selloff on Wall Street in the previous session. On Thursday, the S&P/TSX Composite Index logged its steepest one-day drop in five months, pulled down by sharp losses in technology names, notably Shopify and Celestica. The downturn prompted investors to scale back exposure to riskier assets such as equities and rotate into safer government bonds.

Attention now turns to Canada’s latest employment report, with economists expecting the economy to have created 13,600 jobs in October while the unemployment rate is seen holding at 6.5%. The figures could provide fresh insight into the Bank of Canada’s policy path. At the same time, declining gold prices weighed on mining shares, and weaker oil prices pressured the energy sector.