FX.co ★ TSX Futures Rise on Hopes of Easing US-Canada Trade Tensions

Futures tracking Canadian stocks rose on Wednesday as Democrats appeared poised to regain control of both chambers of the U.S. Congress, boosting hopes for easing trade tensions between the two countries. A Democratic majority could limit some of President Trump’s trade policy decisions. The trade dispute began in February 2025, when Trump signed orders imposing broad tariffs on Canadian goods. The measures took effect in March, prompting retaliatory tariffs from Canada. Trump later exempted USMCA-compliant goods but introduced additional tariffs on steel, aluminum, and automotive imports, including those from Canada. Meanwhile, oil prices edged lower, offering some relief to credit-sensitive sectors that have been under pressure from inflation concerns and the prospect of higher interest rates. Gold prices climbed, providing support to mining shares.