March futures on the S&P/TSX index were down 0.6% at 7:00 a.m. ET.
Gold and oil prices dropped following fresh hawkish rhetoric from U.S. Federal Reserve officials, with oil prices under added pressure from signs of ample U.S. supplies. [GOL/] [O/R]
Canada's producer prices data is due at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.6% lower on Thursday, tracking declines on Wall Street as strong U.S. economic data fueled worries that the Federal Reserve would keep hiking interest rates for longer than previously expected.
Meanwhile, Bank of Canada's governor Tiff Macklem said on Thursday that the economy remains overheated and the jobs market is too tight, as he kept the door open to future interest rate raises.
In company news, First Quantum Minerals Ltd has warned employees it may have to shutter operations in Panama if the government does not allow its copper exports to resume by next week, according to a memo sent to staff and seen by Reuters.
Rogers Communications said it would further extend the deadline for its takeover of Shaw Communications Inc to March 31, as the wireless carriers await final approval from Canadian industry minister Francois-Philippe Champagne.
Air Canada reported a narrower quarterly loss, helped by strong holiday travel demand.
Dundee Precious Metals reported a fall in fourth-quarter revenue, but beat profit estimates.
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,826; -0.94% [GOL/]
US crude: $76.08; -3.07% [O/R]
Brent crude: $82.72; -2.84% [O/R]
(Reporting by Shristi Achar A in Bengaluru; Editing by Devika Syamnath)
