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Market Open: Futures Rise with Fed Cuts: Wed Jan 29

Lyndsay Malchuk Lyndsay Malchuk, The Market Online
0 Comments| January 29, 2025

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Futures tied to Canada’s benchmark stock index edged higher on Wednesday as the Bank of Canada cut interest rates by another 25 basis points

Market Numbers:

TSX : Up (0.52%) 25,419.46
TSXV: Up (1.09%) 609.43
DOW: Up (0.31%) 44,850.35
NASDAQ: Up (2.03%) 19,733.59
FTSE: Up (0.32%) 8,560.97

In the Headlines

The Bank of Canada has cuts its interest rate by 25-basis-points. This move lowers the central bank’s key rate to 3.00%, marking its sixth consecutive reduction as policymakers navigate economic conditions.

And Boeing signals progress in its recovery efforts as the aerospace giant works to rebuild confidence following recent safety and production setbacks.

Currencies Update

Canadian dollar leaves behind $0.053 to $0.6929 U.S,drops $0.0224 or 3.27% against the Euro to $0.6662 and Bitcoin dips -990.34 (0.67%) C$146,631.66


Commodities

Natural Gas: Up (1.15%), 3.43
WTI: Down (0.83%), 73.16
Gold: Up (0.07%), 2,742.81
Copper Up (0.03%) 5.8538

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