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5 Things to Know Today — Fed Hikes, BoE Warns, and the TSX Is Bouncing Back

  The Fed's first rate hike since 2023 rocked markets Wednesday. Here's what it means for your wallet on Friday, September 18. Friday, September 18, 2026  |  moneysavings.ca 1 The Fed Hiked — First Time Since 2023 The U.S. Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%–4.00% on Wednesday — the first hike since June 2023. Chair Kevin Warsh cited persistent inflation tied to elevated oil prices and a still-resilient economy, saying recent inflation readings hadn't improved enough to justify holding. The decision was unanimous. The updated dot plot signals one more potential hike by year-end, then a pause through 2027. Markets initially sold off, but U.S. futures are rebounding this morning as investors reframe the move as a sign the Fed is serious about getting inflation under control. 💡 What It Means for You A higher U.S. federal funds rate puts upward pressure on Canadian bond yields and mortgage rates. The BoC is already...

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TSX Futures Subdued as Commodity Prices Weigh on Investor Optimism


In the premarket trading, futures for Canada’s main stock index remained subdued due to a decline in commodity prices. Despite optimism following the index nearing a record high in the previous session, lower commodity prices have tempered expectations. Let’s dive into the details.

The S&P/TSX composite index on the Toronto Stock Exchange had recently reached its highest level in four weeks. This rally was triggered by the U.S. Federal Reserve’s decision to leave its key interest rate unchanged at its last meeting, coupled with indications that the next move would likely be a rate cut.

However, commodities took a hit. Both precious and base metals saw price declines, partly due to a stronger U.S. dollar, which made commodities relatively more expensive. Oil prices also fell, driven by industry data showing an accumulation of crude and fuel inventories in the U.S. Additionally, cautious supply expectations ahead of an OPEC+ policy meeting contributed to the decline in oil prices.

Investors are closely monitoring employment data for April in Canada and weekly jobless claims in the U.S. for further insights. Meanwhile, Suncor Energy, the second-largest oil producer in Canada, beat first-quarter profit estimates, supported by robust demand for refined products and record oil sands production.

In summary, while optimism persists, the drag from sliding commodity prices is keeping TSX futures in check. Investors are navigating this delicate balance as they await economic data and corporate earnings reports.


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