FX.co ★ Canadian Futures Edge Higher on Gold Rally Before Rate Decisions

Futures for the S&P/TSX Composite Index increased on Wednesday, driven by a new peak in gold prices. Investors are also anticipating that both the US Federal Reserve and the Bank of Canada will announce interest rate decisions later today, with the general expectation being that rates will remain steady. The mining sector stands to gain from the surge in gold prices, and banking stocks may benefit from the stable interest-rate forecast across North America. In corporate news, Canadian Pacific Kansas City, Celestica, a company specializing in electronic manufacturing services, and CGI, an IT consulting firm, are slated to release their earnings reports today.