FX.co ★ TSX Eases After Holiday

The S&P/TSX Composite Index experienced a slight decline of 0.2%, dipping below 32,950 on Monday, as trading resumed post-holiday and markets approached the year's final week with caution. Key mining companies such as Agnico Eagle, Barrick, and Wheaton Precious Metals saw decreases ranging from 1.8% to 3.4%. This downturn was driven by a fall in gold prices, spurred by profit-taking and reduced demand for safe havens due to diminishing geopolitical tensions. On the other hand, crude oil prices rose by over 2%, providing a boost to Canadian energy producers. This was amidst investor considerations of discussions between the US and Ukrainian presidents regarding a potential peace agreement, juxtaposed with persistent concerns over supply disruptions in the Middle East. Meanwhile, the attention is shifting towards the anticipated release of the US Federal Reserve's meeting minutes scheduled for Tuesday.