March futures on the S&P/TSX index were up 0.1% at 6:57 a.m. ET (11:57 GMT) while their Wall Street peers were mixed. [.N]
Oil prices gained after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank's cut in banks' reserve ratio reinforced hopes of more stimulus measures and economic recovery. [O/R]
Gold prices edged higher, helped by a slight pullback in the dollar, while copper prices were steady on investor caution after prices hit a three-week high in the previous session following economic support measures in top consumer China. [GOL/] [MET/L]
The Bank of Canada held its key overnight rate at 5% on Wednesday and said that while underlying inflation was still a concern, the bank's focus is shifting to when to cut borrowing costs rather than whether to hike again.
Investors will look to the United States for its fourth-quarter gross domestic product (GDP) and a deluge of other economic data to gauge the Federal Reserve's future path for interest rates, ahead of its meeting next week.
The Toronto Stock Exchange's S&P/TSX composite index ended lower on Wednesday, snapping its four-day gaining streak. [.TO]
Meanwhile, fuel distributor Parkland Corporation said on Wednesday that it had temporarily shut down processing operations at its Burnaby refinery in British Columbia after encountering an issue with a processing unit.
U.S-listed shares of tech firm Blackberry fall 1.7% in premarket trading after it announced the pricing of private offering of convertible senior notes.
COMMODITIES AT 6:57 a.m. ET
Gold futures: $2,017.7; +0.1% [GOL/]
US crude: $76.05; +1.3% [O/R]
Brent crude: $80.98; +1.2% [O/R]
(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)
