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CANADA STOCKS-TSX futures rise with higher commodity prices

ReutersJan 22, 2025 12:16 PM

- Futures for Canada's main stock index rose on Wednesday as crude and gold prices climbed and investors took stock of the latest tariff threats from U.S. President Donald Trump.

March futures on the S&P/TSX index SXFcv1 were up 0.2% at 7.00 a.m. ET (1200 GMT).

Gold prices XAU= reached an 11-week high, driven by safe-haven demand amid uncertainty over U.S. trade policies and a weaker dollar.

Oil prices LCOc1, CLc1 edged higher after a more than 2% drop on Tuesday. O/R

Wall Street futures also advanced on Wednesday as investors responded positively to Netflix's strong quarterly results and Trump's significant support for the AI technology sector. .N

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE gained for the sixth consecutive day on Tuesday, as optimism about a business-friendly U.S. government offset concerns about impending trade tariffs.

Trump has vowed to impose tariffs on imports from China, Mexico, Canada and the European Union on Feb. 1.

Domestic producer price index data, due before the bell on Wednesday, was also in focus after a softer-than-expected consumer price figure in the previous day strengthened the bets for another rate cut by the Bank of Canada.

Markets are now pricing in an 85% probability of a 25 basis-point rate cut at the central bank's meeting on Jan. 29. 0#BOCWATCH

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA


(Reporting by Ragini Mathur; Editing by Sahal Muhammed)

((Ragini.Mathur@thomsonreuters.com;))

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