FX.co ★ TSX Futures Slip on Hawkish Fed Signals

Futures linked to Canada's S&P/TSX Composite Index declined on Friday, driven by pessimistic remarks from U.S. Federal Reserve officials, which reduced the chances of a rate cut in December. This followed the index's most significant drop since April in the previous session. Several policymakers stressed caution regarding further easing due to inflation concerns and indications of labor market stability after two rate cuts earlier this year. Meanwhile, oil prices climbed, benefiting major Canadian producers, as a Russian Black Sea port suspended exports following a Ukrainian assault. In contrast, gold mining companies faced challenges due to declining prices. Stantec reported third-quarter revenues slightly below expectations, and Keyera also fell short on earnings and revenue projections. In other corporate developments, Sweden’s Saab is negotiating with the Canadian government and Bombardier to manufacture its Gripen fighter jet under license in Canada. ECN Capital announced that a group led by Warburg Pincus will acquire the company, underscoring private equity interest following recent policy easing measures.