(RTTNews) - Canadian may open on a mixed note on Friday, but the jobs data from Canada and the U.S. will play a key role in setting the trend for the market.
The employment data is eyed for clues about interest rate decisions by the Bank of Canada and the Federal Reserve later this month.
The Canadian market recorded new intraday and closing highs on Thursday, riding on gains in technology sector, even as investors awaited key jobs data that could influence the Canadian central bank's September interest rate decision.
The benchmark S&P/TSX Composite Index hit an intraday high of 28,924.34 and settled with a gain of 164.53 points or 0.57% at 28,915.89, a new closing high.
Asian stocks moved mostly higher on Friday, as weak U.S. labor market data reinforced expectations of a Federal Reserve rate cut later this month and U.S. President Donald Trump signed an executive order officially putting into action the U.S.-Japan trade agreement.
Regional gains, however, remained capped due to caution ahead of key U.S. jobs data due later in the day and amid concerns over Trump's heavy use of tariffs.
The major European markets are up slightly with investors largely making cautious moves ahead of U.S. jobs data.
In commodities trading, West Texas Intermediate Crude oil futures are down $0.34 or 0.54% at $63.14 a barrel.
Gold futures are up $1.50 at 3,608.20 an ounce, while Silver futures are up slightly at $41.420 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
