TSX Futures Slip Ahead of BoC and Fed Decisions

Futures tied to the S&P/TSX Composite Index fell 0.5% on Monday as investors positioned ahead of this week’s policy decisions from both the Bank of Canada and the Federal Reserve.

Stronger-than-expected Canadian employment data bolstered expectations that the BoC will leave rates unchanged, with markets pricing a 97% probability of a hold on Wednesday.

Traders also anticipate the next rate increase to come in 2026.

In the US, the Federal Reserve is widely expected to deliver a rate cut at its December meeting, though uncertainty over the 2026 policy path kept sentiment cautious.

Meanwhile, oil prices fell, pressuring energy names, while gold inched higher, offering some support to miners.

In corporate news, Anglo American withdrew a proposal to revise executive bonus awards from a shareholder vote tied to its merger with Teck Resources, following investor pushback.

Teck shareholders are set to vote on the merger on December 9.