A look at the morning’s market action
On the corporate side, Canadian earnings continue to roll in. This morning, investors get results from energy giant Cenovus and retailer Canada Goose. After the bell, insurers Sun Life and Great-West Lifeco report. Suncor also delivers its results this evening.of Rogers Communications Inc.’s acquisition of Shaw Communications Inc., despite a federal judge suggesting that the watchdog and the telecoms find common ground before an appeal hearing starts Nov. 7.
The day range on Brent was US$94.70 to US$95.96 in the early premarket period. The range on West Texas Intermediate was US$85.51 and US$89.76. Both benchmarks rose about 2 per cent on Tuesday. OANDA senior analyst Ed Moya said prices were also helped by rumors that China is preparing for a full reopening in March 2023.
Spot gold was up 0.2 per cent at US$1,650.49 per ounce by early Wednesday morning, while U.S. gold futures gained 0.3% to $1,655.30.The Canadian dollar advanced in early going as its U.S. counterpart pulled back from a one-week high against a group of currencies ahead of the Fed’s policy decision.There were no major Canadian releases due on Wednesday. Currency markets will be paying close attention to the Fed announcement this afternoon, looking for signs that the U.S.
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