Canadian Stocks Showing A Lack Of Direction As Fed Meeting Looms

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2023-06-09 15:19:03  • 2 mins

After moving moderately lower over the two previous sessions, Canadian stocks are showing a lack of direction during trading on Friday.

The benchmark S&P/TSX Composite Index has been bouncing back and forth across the unchanged line and is currently up just 6.17 points or less than a tenth of a percent at 19,948.87.

The choppy trading on Bay Street comes as traders seem reluctant to make significant moves ahead of the Federal Reserve's monetary policy announcement next Wednesday.

While the Fed is widely expected to pause its recent interest rate increases, traders will be looking for additional clarity about the outlook for rates.

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