FX.co ★ TSX Matches Record High

On Tuesday, Canada's S&P/TSX Composite Index increased by 0.5% to 27,921, reaching its all-time high. This rise was supported by softer US inflation data, which reinforced expectations of an interest rate cut by the Federal Reserve in September, thus benefiting sectors sensitive to interest rate changes. Market sentiment was additionally bolstered by the announcement of a 90-day suspension of increased tariffs agreed upon by Washington and Beijing, reducing immediate global trade tensions. The materials sector led the gains, with Barrick Mining experiencing a 3% increase, while technology giants Shopify and Celestica recorded advances of over 1.2% and 4.2%, respectively. The financial sector also played a role in the overall rise, highlighted by Brookfield's 1.9% climb. On the home front, Canadian building permits saw a significant decrease of 9.0% compared to the previous month, amounting to CAD 12.0 billion in June. This decline was much larger than the anticipated 3.4% drop and reversed May’s adjusted 12.8% increase, marking the most substantial decline since June 2024.