FX.co ★ SX Futures Slip as Gold Falls

On Thursday, futures tied to Canada's S&P/TSX Composite Index experienced a slight decline, primarily influenced by a dip in precious metal prices. The mining sector faced challenges as gold prices fell, coupled with anticipation of futures selling related to an upcoming commodity index rebalancing scheduled for Friday. On a more positive note, energy stocks received modest support from an uptick in oil prices, which partially recovered from recent declines. This recovery occurred amid concerns about potential increases in global supply due to US attempts to influence Venezuelan oil reserves. Looking ahead, market participants are eagerly awaiting Friday’s December employment report, which may provide insights into the Bank of Canada's forthcoming policy decisions. Additionally, Prime Minister Mark Carney is set to visit China next week as part of Canada's strategic efforts to expand trade relations amidst the backdrop of significant US tariffs.