(Reuters) – Futures tied to Canada’s main stock index rose slightly on Friday, while investors awaited key domestic and U.S. jobs data due later in the day to gauge interest rate trajectory in both economies.

December futures on the S&P/TSX index were up 0.09% at 6:00 a.m. ET (11:00 a.m. GMT).

All eyes were on the U.S. payrolls data for November, at 8:30 a.m. ET, which could challenge or cement expectations of a Federal Reserve interest rate cut this month.

Traders are currently betting on a 65.6% chance of a quarter-point cut at the Fed’s policy meeting later this month.

Wall Street futures were broadly flat ahead of the data. [.N]

In Canada, a key employment report will also grab the focus as it could influence the extent of the Bank of Canada’s policy easing cycle. Estimates show the unemployment rate to rise to 6.6% in November, from 6.5% in October.

Market participants have fully priced in a rate cut next week but remain conflicted on the magnitude.

The BoC this year has already reduced its key policy rate by a cumulative 125 basis points in a bid to boost economic growth.

In commodities, oil prices dipped as the decision from OPEC+ to delay a planned hike in output to April highlighted concerns about weak demand. [O/R]

Gold prices steadied, while copper prices touched a three-week high. [GOL/] [MET/L]

The composite index ended at a record closing high on Thursday after investors assessed a mixed set of quarterly earnings from top domestic lenders. [.TO]

In corporate news, Wheaton Precious Metals announced the acquisition of a gold stream from Allied Gold’s Kurmuk project.

COMMODITIES

Gold: $2,633.91; +0.07% [GOL/]

US crude: $67.80; -0.73% [O/R]

Brent crude: $71.55; -0.75% [O/R]

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($1 = 1.4040 Canadian dollars)

(Reporting by Ragini Mathur; Editing by Vijay Kishore)