June futures on the S&P/TSX index were down 0.1% at 7:10 a.m. ET (1110 GMT).
Minneapolis Fed President Neel Kashkari said on Thursday that at the U.S. central bank's last meeting he penciled in two interest rate cuts this year but if inflation continues to stall, none may be required by year end.
The comments weighed on Wall Street indexes, which fell more than 1% each in the previous session, while TSX closed 0.3% lower. [.N] [.TO]
The focus is now on the March nonfarm payrolls data in the U.S., due at 8:30 a.m. ET, that will further guide interest rate cut expectations from the Fed.
Investors will also keep a watch on the March reading of employment numbers in Canada, due at 8:30 a.m. ET, the last pivotal dataset ahead of the Bank of Canada's (BoC) interest rate decision next week.
Economists at ING Economics said they expect the BoC to "open doors" to a June rate cut if there is confidence of converging inflation and increasing labor market slack, however, it does not want to cause a recession.
Gold prices were set to rise for a third straight week on safe-haven inflows, while copper receded from the 14-month high hit in the previous session. [GOL/ [MET/L]
Oil prices were headed for a second weekly gain on account of global geopolitical tensions, concerns over tightening supply and optimism about global fuel demand growth. [O/R]
Company-wise, Laurentian Bank said on Thursday it had agreed to sell the assets under administration of its retail full-service investment broker division.
COMMODITIES AT 7:10 a.m. ET
Gold futures: $2,301.6; +0.2% [GOL/]
US crude: $86.85; +0.3% [O/R]
Brent crude: $91.06; +0.5% [O/R]
(Reporting by Purvi Agarwal in Bengaluru; Editing by Shilpi Majumdar)
