FX.co ★ TSX Breaks Record High

On Thursday, the S&P/TSX Composite index advanced by 0.4%, reaching a new peak at 27,082 points. This increase was primarily driven by gains in the consumer-discretionary and industrial sectors, which outweighed the downturns seen in energy and materials. Air Canada saw a 3.7% rise following an upward revision of its traffic forecasts, while Canada Goose rose by 3.8% following speculation that Bain Capital may sell its stake. Meanwhile, producers of base metals performed well as copper futures remained strong, despite impending US tariffs, thereby bolstering the materials sector. This helped offset a slight decline in oil prices, which dropped below $67 per barrel amid speculation of a potential pause in supply from OPEC+. Concurrently, Ottawa’s efforts to secure a free trade agreement with Southeast Asian nations have provided a more secure investment environment by highlighting market diversification beyond the United States. Investors are now keenly awaiting the release of Canada’s jobs report on Friday for insights into domestic economic growth and possible policy changes from the Bank of Canada.