Canada’s main stock index, TSX futures, opened the day down 0.09%, mirroring Wall Street. Investors are opting for risk-averse ahead of the Federal Reserve’s (Fed) three-day Jackson Hole meeting.
At the meeting, which will be attended by central bankers from around the world, all eyes will be on Fed Chairman Jerome Powell‘s speech on Friday.
The weakening US labor market and President Trump’s attempts to reshape the Fed’s leadership have increased expectations of monetary policy easing.On the commodities front, gold and copper prices fell, while oil prices rose on strong demand signals and uncertainty surrounding the war in Ukraine.
In Canada, investors are awaiting July’s producer price index data.
Previously announced low inflation figures have strengthened expectations that the Bank of Canada may resume interest rate cuts this year.On the company front, Corby Spirit and Wine announced an 8% increase in fourth-quarter revenue.
