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TSX May Open Slightly Higher As Commodities Mixed

Canada's benchmark index may start Thursday slightly higher, as implied by March futures on the S&P TSX index, a day after the U.S. Federal Reserve released the minutes of its latest policy meeting.

Stock futures for the March quarter on the S&P TSX index were up 0.02% at 8.56am ET.

The Fed removed the word "patient" from its statement but said the bank is in no rush to raise rates. The bank also downgraded its outlook on the U.S. economy and on inflation. Consequently, the dollar was weaker, lifting gold prices 1.00% to US$1,162.80 an ounce, which could provide support to mining stocks in the session.

Meanwhile, Brent crude prices fell below US$55 per barrel after oil producer Kuwait said OPEC won't slow down production despite concerns with oversupply.

The TSX gained 63 points at closing on Wednesday, helped by energy and gold stocks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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