FX.co ★ TSX Futures Edge Higher Ahead of Rate Decisions

Futures linked to Canada's S&P/TSX Composite Index experienced a modest increase on Wednesday, in anticipation of interest rate announcements from both the Bank of Canada and the US Federal Reserve. Market consensus suggests that each institution will reduce rates by 25 basis points to facilitate economic growth, with the Bank of Canada dealing with additional challenges posed by US tariff threats. Investors will be keen to evaluate the strategy these central banks might adopt next year, in order to strike a balance between inflationary pressures and a softer labor market. Toronto-listed gold mining companies benefited from a 1% rise in benchmark gold prices, as investors gravitated back to the metal following a recent dip to a three-week low. Concurrently, oil prices rose due to diminished US crude inventories this week and positive outlooks on forthcoming US-China trade negotiations. Canadian Natural is slated to release its report on Thursday, with analysts predicting increased revenue figures, albeit with reduced earnings margins. On Tuesday, Cameco's stock soared by nearly 23% after the company, in conjunction with Brookfield, secured a contract with the US government to expedite the construction of Westinghouse nuclear reactors.