FX.co ★ Canadian Stocks Set for New Record

Futures for the Canadian S&P/TSX Composite Index rose significantly on Wednesday, continuing to reach record highs following a subdued session the previous day. This rise was fueled by renewed strength from resource-based companies. Gold saw an upward rally as consistent demand for safe-haven assets persisted amid geopolitical turmoil in Iran, while speculative interest in AI technology helped boost base metal prices, providing a lift for the miners listed in Toronto. Simultaneously, oil prices continued their upward trajectory. Meanwhile, signals of increased U.S. investment in Venezuelan oilfields waned, which bolstered the outlook for Canadian energy producers. Additionally, Prime Minister Carney was set to begin discussions with Chinese officials during his visit to Beijing, following new data revealing a 10.4% decrease in Canadian exports to China in the year 2025.