CANADA STOCKS-Resources may boost TSX, Fed eyed

Wed Dec 16, 2009 8:10am EST
 
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TORONTO Dec 16 (Reuters) - Canada's main stock market index could open higher on Wednesday, boosted by firm gold and energy prices.

But investors are expected to be cautious ahead of a Federal Reserve policy statement on interest rates later in the day.

Toronto's main stock index ended down 4.67 points at 11,541.02 on Tuesday as investors pocketed gains, offsetting the boost that higher oil prices gave energy shares. [nN15239996]

Here is some news that could affect the market:

U.S. FEDERAL RESERVE

The U.S. Federal Reserve is expected to stick to its super-loose monetary policy stance on Wednesday as high unemployment constrains policy-makers' enthusiasm about the economy's recent improvement. [nN15246231]

GOLD RISES

Gold rose above $1,130 an ounce on Wednesday after above-consensus euro zone data lifted the euro from lows, but prices were rangebound amid caution ahead of a Fed statement. [nLDE5BF0P6]

OIL STRONGER   Continued...