off-the-wire

CANADA STOCKS-TSX futures flat ahead of minutes from cenbank meeting

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 8 (Reuters) - Futures for Canada's main stock index were muted on Wednesday ahead of policy meeting minutes from the Bank of Canada (BoC), with higher crude and precious metal prices providing some support. March futures on the S&P/TSX index were flat at 7:15 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index ended higher on Tuesday, near its best closing level in nearly eight months. The BoC will be releasing minutes from its January policy meeting, where it raised interest rates by 25 basis points, for the first time in the bank's history, at 01:30 p.m. ET. The move comes after a transparency review by the International Monetary Fund. Investors will also weigh BoC Governor Tiff Macklem's speech from Tuesday, where he said that no further interest rate hikes will be needed if the economy stalls and inflation comes down as expected.


Meanwhile, U.S. stock index futures edged lower as investors assessed comments from Federal Reserve Chair Jerome Powell on how long it may take to control inflation Crude and gold prices climbed on a weaker dollar post Powell's remarks. Among single stocks, insurer Intact Financial Corporation reported a decline in fourth-quarter profits on a yearly basis. Credit Suisse downgraded pipeline operator Enbridge Inc to "underperform" from "neutral".


COMMODITIES AT 7:15 a.m. ET


Gold futures : $1,1885.6; +0.48% US crude : $78.01; +1.13% Brent crude : $84.46; +0.91% FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report Reuters global stocks poll for Canada Canadian markets directory ($1 = 1.3371 Canadian dollars) (Reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru; Editing by Devika Syamnath)

shashwat.chauhan@thomsonreuters.com;))
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