FX.co ★ TSX Futures Steady Ahead of Fed and BoC Decisions

On Wednesday, futures linked to the S&P/TSX Composite Index remained steady as investors displayed caution ahead of key interest rate announcements from the Bank of Canada and the US Federal Reserve. The consensus among market participants is that the Bank of Canada will maintain its benchmark rate at the three-year low of 2.25%. Meanwhile, the Federal Reserve is expected to conclude its final meeting of the year with a 25-basis-point rate cut. In the commodities sector, oil prices experienced an uptick due to a significant drop in US crude inventories, coupled with ongoing peace negotiations in Ukraine and the anticipated Fed rate cut, providing a backdrop of support for Canadian producers. Conversely, gold prices decreased, exerting pressure on local mining companies.