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CANADA STOCKS-TSX futures slip ahead of domestic inflation data, Fed meeting
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CANADA STOCKS-TSX futures slip ahead of domestic inflation data, Fed meeting
Dec 17, 2024 5:04 AM

Dec 17 (Reuters) - Futures linked to Canada's main stock

index nudged lower on Tuesday as oil and gold prices eased,

while investors focused on domestic inflation data and the U.S.

Federal Reserve's monetary policy meeting on Wednesday.

December futures on the S&P/TSX index were down

0.2% at 7:06 a.m. ET (12:04 GMT).

Domestic inflation data is due at 8:30 a.m. ET, with

consumer prices growth set to ease to 0.1% in November, from a

0.4% rise in the previous month. On a year-on-year basis,

inflation is seen holding steady at 2.0%.

The main stock index ended 0.5% lower on Monday,

at a near four-week low, after the abrupt resignation of Finance

Minister Chrystia Freeland. Public Safety Minister Dominic

LeBlanc was quickly named as finance minister of the minority

Liberal government.

Freeland's resignation left the government adrift less than

a month before the inauguration of a new U.S. administration

that could impose crippling sanctions on Canadian exports.

Canada's fiscal deficit for the year ended March came in at

C$61.9 billion ($43.45 billion) - about 50% more than what was

projected, according to the Fall Economic Statement.

In commodities, oil prices slipped as China's

economic data renewed demand concerns.

Gold and copper prices eased as the dollar

strengthened ahead of the U.S. Fed's meeting.

While the spotlight will be on the conclusion of the Fed's

two-day policy meeting on Wednesday, investors will try to gauge

the path of interest rates in the new year. Traders expect a

94.2% chance of a 25-basis-point rate cut at the meeting.

Meanwhile, Wall Street futures dipped ahead of retail sales

data.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

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