FX.co ★ TSX Tests New Highs

The S&P/TSX Composite index experienced a modest increase of 0.3%, surpassing the 27,480 threshold on Tuesday, as it reached new record highs. This ascent was fueled by strong performance in the technology and commodities sectors. Leading the momentum, Celestica soared by over 16% following its better-than-anticipated second-quarter results. Additionally, major players like Shopify and Constellation Software saw gains of approximately 1% each. In the energy sector, concerns over supply from the Middle East and tighter production quotas from OPEC+ drove up oil prices, benefiting producers. Gold mining companies also found support as bullion steadied close to a three-week low, aided by signals that easing trade tensions could bolster demand. Furthermore, a recent US–EU framework agreement, establishing a 15% baseline tariff, helped mitigate fears of widespread tariff increases, providing a boost to export-reliant industries such as railway operators. Looking ahead, investors are preparing for significant decisions from both the Bank of Canada and the US Federal Reserve, in addition to a series of key earnings reports due later in the week.