FX.co ★ TSX Futures Edge Up on Rising Fed Cut Bets

On Tuesday, futures linked to the S&P/TSX Composite Index experienced a modest increase, driven by renewed speculation about potential U.S. interest rate cuts. This optimism provided a broad lift to Canadian stocks, propelling the benchmark to a two-week high. However, declines in commodity prices continued to impact significant domestic companies. Oil prices dropped amid growing expectations for a U.S.-mediated peace agreement between Russia and Ukraine, which could reintroduce Russian supply into global markets. Similarly, gold prices decreased as market participants reevaluated the prospects of Federal Reserve easing, offering limited guidance for local mining companies. Despite these challenges, Barrick Mining saw its shares soar by 8.5% yesterday following Mali's government reaching a tentative verbal agreement to resolve the dispute over Loulo Gounkoto.