FX.co ★ TSX Eases From Record High

The S&P/TSX Composite Index decreased by approximately 0.2%, dipping below the 27,000 threshold on Monday. This decline followed its recent all-time high, as investors considered the implications of an extended tariff reprieve from the United States, alongside increasing domestic policy concerns. U.S. President Trump's decision to postpone reciprocal tariffs until August 1st — three weeks beyond the initial deadline — offered brief relief for exporters. However, it also highlighted the looming threat of tariffs reaching up to 70% on significant Canadian exports. In response, the Canadian government is considering direct support for aluminum producers, emphasizing the financial strain of ongoing trade tensions. Leading the market downturn were prominent mining companies such as Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada, which saw declines ranging from 1.6% to 2.9% as gold prices weakened due to reported progress on several U.S. trade agreements. Additionally, energy and technology stocks exerted further pressure on the index, although strong performances from the financial sector helped mitigate the overall decline.