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2025-09-17 18:35:43
Canadian stock index futures consolidate as the market awaits decisions from the two major central banks. ⑴ Futures markets linked to Canada's major stock indices were subdued on Wednesday. Investors are closely watching the key monetary policy decisions to be announced by the Bank of Canada and the US Federal Reserve. S&P/TSX Composite Index futures were trading at 1,733.40 points at 10:11 AM (Beijing Time), down from their recent record highs. ⑵ The market generally expects the Bank of Canada and the Federal Reserve to resume their interest rate cut cycle. Recent data has shown weakening labor markets and slowing economic growth in both countries. Inflation data released on Tuesday showed that Canada's Consumer Price Index (CPI) rose 1.9% year-on-year in August, below economists' expectations of 2%, further fueling market expectations for a rate cut. ⑶ Canadian Finance Minister Francois-Philippe Champagne announced on social media that the release of the federal budget will be postponed from its original October date to November 4. Prime Minister Mark Carney previously indicated that the budget deficit for the 2025/26 fiscal year will be higher than last year, partly due to market concerns about potential tariffs spurred by Trump's tariff rhetoric. 4. Commodity prices saw gold prices halt their upward momentum due to a stronger US dollar and profit-taking. Copper prices fell due to weak Chinese demand, while crude oil prices retreated from the previous day's gains. Earlier, the S&P/TSX Composite Index retreated from its record gains on Tuesday, with metal mining and consumer-related sectors performing poorly.
