TSX Futures Slip as Oil Rise Revives Inflation Concerns
Futures tracking Canadian stocks edged lower on Wednesday as rising oil prices rekindled inflation concerns ahead of the BoC’s policy decision later in the day. The oil rally resumed following an attack on a refinery in Saudi Arabia, renewing worries about energy-driven inflation and the prospect of higher-for-longer interest rates. The BoC is expected to raise its benchmark interest rate by 25 bps as a pre-emptive move to prevent energy-led inflation from spreading across the broader economy, putting credit-sensitive stocks under pressure. Meanwhile, the US Fed is expected to leave interest rates unchanged. Several miners are due to report earnings today, including Agnico Eagle, Alamos, First Quantum, and Kinross. Fairfax and Teck Resources are also scheduled to report. Canadian Natural, Imperial Oil, and Cameco are due to release results on Thursday. Elsewhere, Tamarack Valley raised its average production forecast for 2026, while Trican Well Service reported higher Q3 profit.
Futures tracking Canadian stocks edged lower on Wednesday as rising oil prices rekindled inflation concerns ahead of the BoC’s policy decision later in the day. The oil rally resumed following an attack on a refinery in Saudi Arabia, renewing worries about energy-driven inflation and the prospect of higher-for-longer interest rates. The BoC is expected to raise its benchmark interest rate by 25 bps as a pre-emptive move to prevent energy-led inflation from spreading across the broader economy, putting credit-sensitive stocks under pressure. Meanwhile, the US Fed is expected to leave interest rates unchanged.
Several miners are due to report earnings today, including Agnico Eagle, Alamos, First Quantum, and Kinross. Fairfax and Teck Resources are also scheduled to report. Canadian Natural, Imperial Oil, and Cameco are due to release results on Thursday. Elsewhere, Tamarack Valley raised its average production forecast for 2026, while Trican Well Service reported higher Q3 profit.