FX.co ★ Canadian Futures Inch Higher to Recrods

Futures linked to the S&P/TSX Composite index advanced on Thursday, continuing their record-setting performance and mirroring the upbeat trend seen in North American equities. A resurgence in the technology sector fueled investor risk appetite, which counteracted the adverse effect of declining commodity prices that Canadian firms heavily rely on. Shopify shares were poised for an upward opening, driven by stronger-than-expected results from TSMC, setting the stage for a global rally among companies specializing in artificial intelligence. Concurrently, the economic growth forecast received a boost from Prime Minister Carney's optimistic comments about strengthening relations with China, despite recent data indicating reduced trade volumes in North America. Conversely, crude oil producers experienced a downturn after US President Trump minimized the likelihood of US intervention in Iran, reinforcing the expectation of a robust supply of crude oil from the Middle East.