Futures tied to Canada's main stock index were subdued on Wednesday, as markets awaited crucial monetary policy decisions from the Bank of Canada and the U.S. Federal Reserve.
The TSX Composite Index lost 115.79 to 29,315.23.
The Canadian dollar eked lower 0.07 cents to 82.71 cents U.S.
Futures were virtually unchanged Wednesday.
The BoC and the Fed are widely expected to resume their rate-reducing cycle, with recent data pointing to weakening labour markets and slowing economic growth in both countries.
Air Canada said its flight attendants had requested a cancellation of mediation after members voted against a wage agreement earlier this month.
Meanwhile, Finance Minister Francois-Philippe Champagne said in a social media post the country's upcoming federal budget would be delayed to November 4 from a previously announced October delivery.
Prime Minister Mark Carney had said the 2025/26 budget deficit would be larger than that of last year, partly due to the impact from U.S. tariffs.
The Bank of Canada rate announcement is due shortly before 10 ET this morning.
Elsewhere on the economic calendar, Statistics Canada reported foreign investors acquired $26.7 billion of Canadian securities in July, led by purchases of federal government debt instruments and equity securities.
Meanwhile, Canadian investors added $17.4 billion of foreign securities to their portfolio, including a record investment in foreign bonds.
The Bank of Canada rate announcement is due shortly before 10 ET this morning.
ON BAYSTREET
The TSX Venture Exchange surrendered 16.71 points, or 1.9%, to 876.27 Tuesday
ON WALLSTREET
Stock futures were little changed Wednesday as traders prepared for a much-anticipated monetary policy decision and an even more important policy outlook from the Federal Reserve on Wednesday.
Futures for the Dow Jones Industrials inched ahead 16 points to 46,135.
Futures for the much broader index eased back 2.25 points at 6,665.25.
Futures for the NASDAQ deleted 7.75 points to 24,514.50.
Nvidia shares were down around 1% in the pre-market after The Financial Times reported, citing three people with knowledge of the matter, that China’s internet regulator had barred tech companies in the country from buying the AI giant’s chips. AMD followed Nvidia lower in early trading as well.
Traders almost universally expect the Federal Reserve will lower interest rates on Wednesday, a move that could boost the U.S. economy amid signs the labor market is slowing even as inflation stays stubbornly above the central bank’s 2% target.
Policymakers will also give more insight into their outlook for rates over the next year or so in the closely-watched “dot plot” grid that accompanies their quarterly Summary of Economic Projections.
Investors will also watch for any policy dissents from Fed policymakers after two such disagreements at the last meeting in July. Traders have priced in a 96% chance that the Fed will cut rates by 25 basis points, or a quarter percentage point, and just 4% odds that the market will get a half-point reduction Wednesday
In Japan, the Nikkei 225 faded 0.3%, while in Hong Kong, the Hang Seng gained 1.8%
Oil prices retreated 54 cents to $63.98 U.S. a barrel.
Gold prices dumped $26.50 at $3,698.60 U.S. per ounce.
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