Futures for Canada's main stock index edged higher on Friday, as recent de-escalation of the global trade war and softer U.S. inflation data supported risk appetite.

June futures on the S&P/TSX index were up 0.16% at 6:21 a.m. ET (1021 GMT).

Canada's main stock index rose to a record high on Thursday, helped by industrial and financial shares, and is on track for a sixth straight week of gains if current trends hold on the day.

Investors cheered the 90-day pause in the U.S.-China tariff dispute, which reduces the global recession risks, and the bilateral trade agreement between the U.S. and the UK a week ago, igniting hopes for potential trade deals with the U.S.

Earlier this week, data showed U.S. consumer prices had rebounded moderately in April.

Markets will also focus on remarks from Federal Reserve policymakers, with at least two officials, including Richmond Fed President Thomas Barkin slated to speak later in the day.

In commodities, oil prices extended declines, but are heading for a second consecutive weekly gain due to easing U.S.-China trade tensions.

Gold prices dropped and were poised for their steepest weekly decline in six months, while copper prices edged lower but were set for a weekly rise.

In corporate news, Canadian oil and gas producer Strathcona said late Thursday it plans to launch a C$5.93 billion ($4.25 billion) takeover bid for peer MEG Energy.

(Reporting by Sanchayaita Roy; Editing by Vijay Kishore)