(Reuters) -Futures for Canada’s main stock index slipped on Monday as China’s warning of “countermeasures” against countries striking deals with the U.S. at its expense increased investor worries about the economic fallout from the trade war.
June futures on the S&P/TSX index were down 0.2% at 6.28 a.m. ET (1028 GMT). Trading was thin after a week shortened by Good Friday.
China on Monday accused Washington of abusing tariffs, and its warning to other countries followed a report that U.S. President Donald Trump’s administration was pressuring countries to curb trade with the world’s second-largest economy.
The Canadian stock market also takes cues from Wall Street, where index futures down after Trump’s scathing attack against Federal Reserve Chair Jerome Powell sparked worries about the central bank’s independence.
At home, Canada enters the final week of election campaigning before voters head to poll on April 28.
Canadian Prime Minister Mark Carney’s campaign platform plans released on Saturday include tax cuts and new spending on infrastructure and defence, as he pledges a new economic order that is less reliant on the U.S.
Among sectors, Canadian gold mining companies could get support from the yellow metal hitting record highs, buoyed by safe-haven flows.
Meanwhile, oil prices fell after nuclear talks between the U.S. and Iran showed progress.
Gains in commodity prices last week helped Canada’s main stock index rise on Thursday and post its biggest weekly gain in seven months.
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(Reporting by Ragini Mathur in Bengaluru; Editing by Leroy Leo)
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