TSX Futures Edge Higher Following GDP Data
Futures tracking Canadian equities edged higher on Tuesday following subdued GDP data, reinforcing expectations that the Bank of Canada is unlikely to raise rates this year. Advance information showed that real GDP increased 0.2% in August, with gains in mining and quarrying and retail trade partly offset by a decline in oil and gas extraction. GDP was essentially unchanged in July. Meanwhile, oil prices pulled back as US and Iranian officials continued separate discussions with mediators. Easing crude and fuel prices offered some relief to credit-sensitive stocks, which had been under pressure from inflation concerns stemming from the oil rally. Gold prices moved higher, lending support to mining shares.
Futures tracking Canadian equities edged higher on Tuesday following subdued GDP data, reinforcing expectations that the Bank of Canada is unlikely to raise rates this year. 2% in August, with gains in mining and quarrying and retail trade partly offset by a decline in oil and gas extraction. GDP was essentially unchanged in July. Meanwhile, oil prices pulled back as US and Iranian officials continued separate discussions with mediators.
Easing crude and fuel prices offered some relief to credit-sensitive stocks, which had been under pressure from inflation concerns stemming from the oil rally. Gold prices moved higher, lending support to mining shares.