TSX Poised to End 4-Day Slump
Baystreet·- Canadian equities rose on Friday, putting the TSX on track to snap a 4-day losing streak driven by a weaker-than-expected U.S. jobs report. - The U.S. non-farm payrolls report showed the economy added 29,000 jobs in September with unemployment rising to 4.2%, boosting expectations that the Federal Reserve will hold rates steady. - Prime Minister Mark Carney announced that Canada will fast-track approval for a new West Coast crude oil export pipeline to diversify the economy.Gold Price Forecast: US August PCE Imminent, Will Gold Prices Rise or Fall Short-Term?
TradingKey·- Gold prices recovered to trade near 4,195 USD following an earlier decline to a nearly seven-week low of 4,110 USD. - Market focus shifts to the upcoming US August PCE inflation data to gauge the Federal Reserve's subsequent rate hike path. - Lower-than-expected PCE figures could fuel gold's recovery, whereas higher-than-expected data might trigger renewed downside risks.