TSX Futures Rise Ahead of Federal Reserve Interest Rate Decision

The TSX futures rose ahead of the Federal Reserve interest rate decision on Wednesday. This comes after the S&P/TSX composite index dropped by 0.3% to end at 35,582.07 on Tuesday.

Analysts cited Reuters suggested that a climb in government bond yields fueled by the oil price surge had weighed on sentiment. The recent rise in oil prices has sparked fears of prolonged inflation and subsequent interest rate hikes.

The Federal Reserve is widely expected to raise interest rates by 25 basis points to a range of 3.75% to 4% at the conclusion of its policy meeting on Wednesday.

Gold prices rebounded on Wednesday after two sessions of losses, rising 1.1% to $4,339.27 an ounce.