FX.co ★ TSX Edges Higher Ahead Of Fed Decision

The S&P/TSX Composite Index inched above the 35,000 mark on Wednesday as investors awaited confirmation of a US–Iran peace agreement and further clarity on the US Federal Reserve’s monetary policy outlook. The US and Iran remained on course to sign the deal on Friday, though some terms were still uncertain. Oil prices hovered near a three-month low, pressured by expectations that the Strait of Hormuz would reopen and by an International Energy Agency warning of a potential supply glut next year. Canadian government bond yields slipped as easing energy-driven inflation concerns tempered rate-hike fears. Bank stocks advanced, with RBC up 0.5% and both TD Bank and BMO gaining more than 0.5%. At the same time, markets looked ahead to Federal Reserve Chair Kevin Warsh’s first policy decision, with consensus expectations pointing to an interest rate hold.