TSX Futures Edge Up After BoC and Fed Rate Cuts

Futures tracking Canada’s S&P/TSX Composite Index edged higher on Thursday, following yesterday’s 25 bps rate cuts by both the Bank of Canada and the Federal Reserve.

Still, markets were cautious after the BoC signaled the end of its easing cycle.

Gold prices rose, supporting major canandian miners.

Agnico Eagle rose after posting Q3 EPS of $2.16, beating estimates by $0.21, with revenue at $3.06 billion versus $2.95 billion expected.

Meanwhile, President Trump said he had a “very nice” talk with Canadian Prime Minister Mark Carney during a dinner in South Korea, as trade tensions eased.

Oil prices slipped as investors assessed the impact of the truce between the world’s top consumers.

Today, Canadian Natural, Fairfax Financial, Restaurant Brands, Athabasca Oil, Eldorado Gold, Capstone Copper, and NexGen Energy are set to report.