The TSX is up near 10 points at midday, on mixed sectors. The biggest gainer is the mining sector, up 2%.
Focus is already on the FOMC meeting next week in the United States as it “could be highly consequential”, according to a Macquarie strategist. Thierry Wizman, Global FX & Rates Strategist at Macquarie said: “That’s because the FOMC will issue a new Summary of Economic Projections and new ‘dots’, which is likely to set the tone for the action that emerges afterward. As we’ve said during this week, we think that the Fed is still likely to ease at mid-year (June or July), but the FOMC meeting will keep us squarely in the wait-and-see period by another one or two meeting cycles, with Jay Powell repeating that he needs a “little bit more” evidence that disinflation is sustainable before he would cut the Fed Funds rate target. But there is also a risk that the median dot drifts higher for both 2024 (currently 3 cuts) and 2025…
