FX.co ★ TSX Futures Edge Up Ahead of US-China Talks

Futures linked to Canada’s S&P/TSX Composite Index saw an uptick on Monday, driven by renewed optimism surrounding a potential US-China trade agreement, which buoyed North American equities. Officials from the United States and China expressed positive sentiment about reaching a trade deal ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping, enhancing global risk appetite. This optimism provided enough momentum for Canadian stocks to counteract pressure on major gold mining companies, as an improved trade outlook reduced the demand for gold as a safe-haven asset, thereby lowering bullion prices. The earnings season also captivated attention, with reports from five of the "Magnificent Seven" tech giants in the United States expected to potentially benefit Shopify. Additionally, companies such as Canadian Natural, Agnico Eagle Mines, and Celestica are scheduled to release their earnings this week. Central bank decisions are also under scrutiny, with the Bank of Canada anticipated to implement a 25 basis points cut on Wednesday, marking its second consecutive reduction as it seeks to bolster an economy susceptible to US tariff threats.