TSX futures inch lower ahead of August inflation report
EWC•Other market factors
- The tech sector will remain in focus as AI-linked stocks on Wall Street fell in premarket trading after the heads of Anthropic and OpenAI warned that the pace of AI development needed to slow down.
- Meanwhile, Canadian Prime Minister Mark Carney said on Sunday that the country is seeking a "unique alliance" with the European Union but not a membership.
- S&P Dow Jones said on Friday it would revise the eligibility criteria for S&P/TSX Canadian indices, which investors believe could pave the way for the inclusion of copper producer Anglo-Teck.
TSX futures edge lower before Canada CPI
Sept. 14 (Reuters) - Futures tracking Canada's main stock index inched lower on Monday ahead of August CPI data, as rising crude prices rekindled inflation worries, while weaker gold prices dampened sentiment.
September futures on the S&P/TSX index SXFcv1 were down 0.17% at 05:54 a.m. ET.
Inflation, rates and commodities in focus
- Crude prices rose 2.6% following attacks on Saudi Arabia's energy infrastructure, which led to the shutdown of its East-West pipeline, compounding worries over supply disruptions. O/R
- Canada's August Consumer Price Index (CPI) data is expected later in the day and economists polled by Reuters expect prices to remain unchanged from the previous month.
- Traders are pricing in a nearly 40-basis-point rate hike by the Bank of Canada by year-end, according to LSEG data.
- Investors will also turn their attention to the Federal Reserve's policy meeting, which begins on Tuesday. U.S. inflation data released on Friday, showing an acceleration in consumer prices in August, had reinforced expectations that the central bank would hike rates.
