TSX Futures Gain on Oil Price Hike Amid US CPI Anticipation

TSX futures in Canada ticked up by 0.2% early on Wednesday as oil prices firmed due to fresh attacks on ships in the Middle East.

The Brent crude price rose 0.6% to $89.42 a barrel, while US crude added 0.5% to $83.63.

Market participants are waiting for the release of the US Consumer Price Index (CPI) data at 8:30 a.m. ET, which could influence expectations for September interest rates.

The FedWatch Tool from CME shows that money markets are nearly split on a September rate hike, with an implied chance down from 54% last week.