TSX Futures Steady Ahead of Fed and BoC Decisions

Futures tied to the S&P/TSX Composite Index were flat on Wednesday as investors turned cautious ahead of interest rate decisions from the Bank of Canada and the US Federal Reserve.

Markets widely expect the BoC to keep its benchmark rate unchanged at a three-year low of 2.25% later today.

Meanwhile, the Fed concludes its final meeting of the year and is broadly expected to deliver a 25-basis-point cut.

In commodities, oil prices rose as investors assessed a sharp drop in US crude inventories, ongoing Ukraine peace talks and the prospect of a Fed rate cut, supporting Canadian producers.

In contrast, gold prices slipped, weighing on local miners.