FX.co ★ TSX Retreats from Records

On Monday, the S&P/TSX Composite Index edged down by 0.3%, settling at 27,405. This retreat followed the record high it reached during the previous session, as investors weighed the ongoing global trade tensions and their potential impact on economic growth. Canadian stocks received some lift from the newly announced trade agreement between the United States and the European Union, which alleviated concerns of increased tariffs and offered a slight boost to North American markets. The financial sector largely contributed to the decline, with Royal Bank of Canada slipping 1%, Toronto-Dominion Bank falling 0.8%, and Bank of Montreal declining by 1.1%. Agnico Eagle Mines saw a 2.3% drop as precious and base metal prices weakened in anticipation of its forthcoming earnings report. Conversely, technology stocks saw gains due to improved risk sentiment, exemplified by Shopify rising 1.8%. Meanwhile, Enbridge remained relatively steady in advance of its upcoming earnings announcement this week.