FX.co ★ TSX Falls on Rising Yields and Geopolitical Risks

The S&P/TSX Composite Index edged lower to trade around 36,500 on Tuesday, pressured by rising global bond yields and ongoing uncertainty in the Middle East. Crude prices advanced as hopes for a US–Iran peace deal faded, amplifying concerns about renewed energy-driven inflation. Higher bond yields weighed on financials and the broader market: RBC and TD Bank each lost nearly 1%, while BMO, Scotiabank, and CIBC declined more than 0.5%. Gold prices retreated, dragging down mining shares. Barrick slipped about 0.5%, Wheaton Precious Metals fell nearly 2%, and Franco-Nevada dropped more than 1%. Elsewhere, NexGen Energy fell 3.5% after CEO Leigh Curyer said the company is sharing information and “talking regularly” with mining giant BHP about its Rook I project in Saskatchewan, when asked about the prospect of a potential equity stake. On the data front, July home sales rose, but by less than economists had expected. Separately, Canada is bracing for a new round of 50% US tariffs this week, with negotiators from both countries still far from agreeing on a draft trade deal.