FX.co ★ TSX Attempts to Renew Record High

On Wednesday, the S&P TSX Composite Index advanced by approximately 0.2%, reaching a new high above 33,150. This increase was driven by a resurgence in gold prices and strong energy sector performance, which more than compensated for any profit-taking by investors as they absorbed the implications of the Bank of Canada's recent decision. The rally in gold prices provided a boost to major mining companies such as Agnico Eagle, Barrick, Wheaton Precious Metals, and Franco Nevada, with their shares increasing between 1.3% and 2.8%. Additionally, energy stocks saw gains as oil prices recovered, benefiting companies like Suncor, Cenovus, and Canadian Natural Resources, which saw their stock prices rise between 0.7% and 1.6%. The Bank of Canada opted to maintain the policy rate at 2.25%, reinforcing their stance that the current economic settings remain suitable. They projected steady economic growth and a near 2% inflation rate, while also highlighting concerns over heightened trade uncertainty due to potential US tariff threats.