FX.co ★ TSX Struggles for Direction

Canada’s S&P/TSX Composite Index remained steady around the 27,925 level on Tuesday as investors assessed the implications of lower-than-anticipated inflation figures along with developments from President Trump's discussions with President Zelenskiy and European leaders. Canada's trimmed-mean core inflation rate held at 3.0% in July, contrary to forecasts of 3.1%, despite an uptick in the median core inflation rate. Concurrently, updates from the White House meeting hinted at a potential trilateral meeting involving Putin, though specifics were lacking, with Zelenskiy describing it as a "significant advance." Within the market, Canadian Pacific and Canadian National emerged as prominent gainers, each advancing by roughly 1%. Conversely, the technology sector experienced downward pressure, with Celestica declining over 3% and major tech entity Shopify retreating nearly 1%.