Forex
TSX Futures Rise Amid Oil Price Bump and US CPI Anticipation
Canada's TSX futures saw a slight increase of 0.2% early on Wednesday, driven by rising oil prices following fresh attacks in the Middle East.
The price of Brent crude rose 0.6% to $89.42 per barrel, while US crude added 0.5% to $83.63 as traders grew concerned about potential supply disruptions.
The real catalyst for the day's market activity, however, is the upcoming US Consumer Price Index (CPI) report due at 8:30 a.m. ET.
The CPI data will have a significant impact on interest rate expectations in both the US and Canada, with money markets nearly split on whether the Federal Reserve will hike rates in September.