Nov 17 (Reuters) - Futures pointed to a slightly higher opening for Canada's main stock index on Friday amid a rise in oil prices and ahead of monthly inflation data.
The annual inflation rate is expected to have cooled to 1.4 percent in October, which will likely give the Bank of Canada room to take its time raising interest rates after two back-to-back hikes earlier this year. The data is due for release at 0830 ET.
Oil prices rose but remained en route for their first week of losses in six, as concerns grew over Russia's support for an extension of the crude output cuts that have bolstered prices in recent months.
December futures on the S&P TSX index were up 0.08 percent at 7:15 a.m. ET.
Canada's main stock index broke a six-day losing streak on Thursday, helped by gains among its biggest banking stocks as bond yields rose, while continued weakness in oil prices weighed on its energy companies.
Dow Jones Industrial Average e-mini futures were down 0.06 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.05 percent and Nasdaq 100 e-mini futures were up 0.11 percent.
TransCanada Corp shut part of its Keystone oil pipeline system after a 5,000-barrel leak in South Dakota, the company said on Thursday, four days before neighboring Nebraska was set to decide on the company's long-delayed Keystone XL pipeline.
Great-West Lifeco:National Bank of Canada ups rating to "outperform" from "sector perform"
Teck Resources Ltd: CIBC starts with "outperformer" rating; C$38 price target
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,288.3; +0.39 pct
US crude: $56.05; +1.65 pct
Brent crude: $62.13; +1.24 pct
LME 3-month copper: $6,776.00; +0.58 pct
0830 Building permits: number for Oct: Expected 1.247 mln; Prior 1.225 mln
0830 Build permits: change mm for Oct: Prior -3.7 pct
0830 Housing starts number mm for Oct: Expected 1.185 mln; Prior 1.127 mln
0830 House starts mm: change for Oct: Prior -4.7 pct
1030 ECRI Weekly Index: Prior 145.6
1030 ECRI weekly annualized: Prior 3.2 pct
1100 KC Fed Manufacturing for Nov: Prior 20
1100 KC Fed Composite Index for Nov: Prior 23
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$1= C$1.27 Compiled by Nivedita Balu; Editing by Sai Sachin Ravikumar