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2025-09-17 18:30:10
[Market Await Central Bank Decisions, Canadian Stock Futures Consolidate] ⑴ Canada's major stock index futures were flat on Wednesday (late September 17th, Beijing time), as the market closely watched the monetary policy decisions of the Bank of Canada and the US Federal Reserve. S&P TSX 300 futures were at 1,733.40, retreating from recent highs. ⑵ The market generally expects the Bank of Canada and the Federal Reserve to resume their interest rate cut cycle, following data showing weakening labor markets and slowing economic growth in both countries. Data showing Canada's Consumer Price Index (CPI) rose 1.9% year-on-year in August, below economists' expectations of a 2% increase, further bolstering expectations of a rate cut. ⑶ Canada's Finance Minister stated that the release of the federal budget will be delayed until November 4th. The Prime Minister had previously stated that the budget deficit for fiscal year 2025/26 would be higher than last year, partly due to the impact of US tariff rhetoric. ⑷ In commodities, gold paused its record-breaking rally due to pressure from a stronger US dollar and profit-taking, with market focus shifting to the Federal Reserve's interest rate decision. Copper prices fell due to weak Chinese demand, while oil prices retreated from gains in the previous session. (5) In addition, Air Canada announced that it had requested the cancellation of mediation after crew members voted against an earlier wage agreement. In the previous session, the S&P TSX 300 index retreated from a record high, primarily due to losses in metals, mining, and consumer-related stocks.
