FX.co ★ TSX Tests New Highs

The S&P/TSX Composite Index increased by approximately 0.3%, surpassing the 26,440 mark on Tuesday, and reaching new record highs. This uptrend was driven by optimism surrounding a potentially more favorable trade resolution between the two largest global economies. Investors reacted positively to news that discussions concerning US-China export controls, taking place in London, were making headway. Reports suggest that the United States is contemplating relaxing semiconductor restrictions in exchange for a boost in rare-earth shipments, which in turn raised expectations of diminished supply-chain disruptions. This favorable outlook stimulated positive sentiments around global trade and supported demand projections for Canada’s export-heavy economy dominated by commodities. The upward movement was widespread, with the energy sector at the forefront as shares of Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus rose between 1.2% and 1.6%.