Futures on the S&P/TSX index fell 0.6% at 7:04 a.m. ET, while their U.S. counterparts also fell. [.N]
Commodity prices fell against a stronger dollar, with crude prices dropping nearly 1%. Precious metal prices dropped, with gold hitting its lowest in two weeks. [O/R] [GOL/]
The Toronto Stock Exchange's S&P/TSX composite index closed at its lowest in nearly three weeks on Wednesday, as the Fed raised interest rates by another 75 basis-points and hinted at a higher than previously estimated peak rate.
Up next, the Bank of England is expected to come out with a 75-bps hike at 8:00 a.m. ET, its highest since 1989.
Domestic trade balance data for September at 8:30 ET will likely show Canada's trade surplus narrowed to C$1.34 billion ($973.27 million) in September from C$1.52 billion in the prior month.
Meanwhile, Canada's government will outline its new fiscal forecasts and update its spending plans against the backdrop of a stalling economy brought on by a steep rise in interest rates. The document will be published at about 4 p.m. ET (2000 GMT).
Canada will propose a tax on corporate stock buybacks, according to a senior government source.
Canadian earnings were a mixed bag, with Sun Life Financial Inc, Canada's second-biggest life insurer, topping quarterly profit expectations, while Nutrien Ltd cut its full-year adjusted earnings forecast.
Bombardier Inc reported a substantially smaller quarterly adjusted loss. The world's second biggest gold miner, Barrick Gold Corp, reported a 30.1% drop in third-quarter profit.
Canadian Natural Resources reported a 28% rise in quarterly profit, while Suncor Energy Inc's third-quarter profit beat analysts' expectations.
($1 = C$1.38)
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Maju Samuel)
