FX.co ★ TSX Futures Rise on Dovish Fed Signals

Futures linked to the S&P/TSX Composite Index experienced a slight uptick on Friday as investors continued to assess the risks associated with heightened AI spending. Market sentiment received a boost after New York Fed President John Williams adopted a cautiously dovish stance. He described US monetary policy as "modestly restrictive," indicating the potential for a "further adjustment in the near term" to align the federal funds rate more closely with a neutral level. In corporate news, Dye & Durham received a $272 million proposal to be taken private by Plantro, while GFL Environmental announced a secondary offering by its selling shareholders. Oil prices declined, extending previous losses, due to discussions surrounding a potential Russia–Ukraine peace agreement, which could result in increased global supply and put pressure on Canadian refiners. At the same time, gold prices fell, as diminished expectations for a US interest rate cut negatively affected local mining companies.