A look at Wednesday morning’s market action
Global markets drifted ahead of key U.S. inflation numbers this morning as investors looked for signals of what the Federal Reserve’s next interest-rate policy decision might be. TSX futures edged lower ahead of the Bank of Canada’s latest interest-rate policy announcement. As the Globe’s Mark Rendell reports, the central bank
“U.S. inflation has been on the stubborn side in recent months,” Deutsche Bank analysts wrote. “The general consensus is it’s going to be a stronger one again.” In Asia, Japan’s Nikkei closed 0.01 per cent higher, while Hong Kong’s Hang Seng declined 0.77 per cent.Oil prices rose, with markets expecting demand to rise in China, the world’s largest crude importer, after Beijing announced it would relax monetary policy to try to stimulate economic growth.
“Oil prices managed to find a footing lately, as stronger policy signals from Chinese authorities have once again rekindled hopes for stronger stimulus measures to come in 2025,” said Yeap Jun Rong, market strategist at IG.
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