Gold futures : $1,947.1; +0.3% US crude : $69.3; -0.3% Brent crude : $75.01; -0.3% 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 = 1.3699 Canadian dollars) (Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)
(Adds dropped word "decision" in headline
)
March 22(Reuters) - Futures for Canada's main stock
index edged up on Wednesday tracking gains in bullion prices, as
investors awaited the U.S. Federal Reserve's verdict on further
monetary tightening.
The Fed is expected to deliver quarter of a percentage-point
rate hike at 2 p.m. ET (1800 GMT), but a few market participants
also expect a pause following the recent rout in global markets. March futures on the S&P/TSX index were up 0.2% at
7:05 a.m. ET.
Gold prices added shine as investors rushed to the
safe-haven asset ahead of the Fed's rate decision announcement. Among company news, brokerage Scotiabank upgraded Africa Oil
Corp to "sector outperform" from "sector perform".
Meanwhile, Canada Deposit Insurance Corp (CDIC) is reviewing
deposit insurance limits to safeguard the country's financial
system, the Bank and Trust Companies Association said.
In the previous session, the Toronto Stock Exchange's
S&P/TSX composite index closed 0.7% up at a one-week
high, as energy and financial stocks rallied after data showed
inflation eased in the previous month. Dow e-minis were up 31 points, or 0.09% at 7:05
a.m. ET, while S&P 500 e-minis were up 2.75 points, or
0.07% and Nasdaq 100 e-minis were down 7.75 points, or
0.06%. COMMODITIES AT 7:00 a.m. ET
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.