FX.co ★ TSX Weighed by Tech

The S&P/TSX Composite Index in Canada decreased by 0.4%, settling at 27,824 on Tuesday. This decline came as investors considered weaker-than-expected inflation figures and new geopolitical events. The Bank of Canada's favored inflation indicator, the CPI Trimmed-Mean, remained at 3.0% in July, contrary to the anticipated rise to 3.1%, prompting speculation of a more relaxed monetary policy. Additionally, discussions following President Trump's meeting with Zelenskiy and European leaders hinted at a possible trilateral engagement with Putin, although specifics are yet to be disclosed. Technology stocks were among the hardest hit, with Celestica falling 4.8% and Shopify dropping 2.3%. In the mining sector, Agnico Eagle and Wheaton Precious each experienced a 2.1% decrease. Partly balancing these declines, Canadian Pacific and Canadian National saw gains of 2.2% and 1.6%, respectively. In corporate developments, Air Canada reached a preliminary agreement with the union for 10,400 flight attendants, aiming to resolve the strike that had led to numerous flight cancellations.