Canada Stocks: TSX futures rise on precious metals rally ahead of Fed, Bank of Canada rate calls

Metro

27/01/2026 11:19

Jan 27 (Reuters) - Futures linked to Canada's main stock index rose on Tuesday as precious metals extended gains, a day ahead of interest rate calls from the U.S. Federal Reserve and the Bank of Canada.

March futures on Toronto's S&P/TSX Composite Index SXFcv1 were up 0.44% as of 5:55 a.m. ET.

Toronto's benchmark stock index .GSPTSE retreated from an intraday record high on Monday, as investors booked profits amid surging commodity prices.

Spot silver XAG= jumped 8.1% on Tuesday, and gold XAG= rose 1.4%, extending record highs set in the previous session as safe-haven demand persisted amid geopolitical concerns.

U.S.-Canada tensions have intensified following Canadian Prime Minister Mark Carney's speech in Davos and U.S. President Donald Trump's subsequent threat of a 100% tariff on Canada if Ottawa follows through on a trade deal with China.

Carney said on Monday that a review of the U.S.-Mexico-Canada free trade deal due later this year will be robust and described Trump as a tough negotiator.

Oil prices LCOc1, CLc1 fell after Kazakhstan's energy ministry said production at its biggest oilfield is set to resume, but the decline was limited due to a severe winter storm in the U.S. disrupting crude production.

Bank of Canada is scheduled to make a decision on interest rates on Wednesday. Economists polled by Reuters expect the central bank to keep rates unchanged at 2.25%, but remain divided about the policy outlook.

The Fed will convene its two-day policy meeting on Tuesday, with a decision due Wednesday that is widely expected to keep the rates unchanged.

In corporate news, investment fund La Caisse after the market closed on Monday said it will sell a part of its stake in telecom firm Cogeco Communications CCA.TO.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA

 (Reporting by Utkarsh Tushar Hathi in Bengaluru; Editing by Sahal Muhammed)

 ((utkarshtushar.hathi@thomsonreuters.com))