FX.co ★ TSX Breaks 7-Week Win Streak

The S&P/TSX Composite Index experienced a modest increase of 0.1%, closing at 29,761 on Friday. However, it concluded the week on a lower note, interrupting a seven-week winning streak as investors assessed a combination of domestic GDP data, U.S. inflation figures, and new trade measures. An initial estimate from Statistics Canada indicated that real GDP showed little change in August. Gains in the wholesale and retail sectors were enough to counterbalance the weaknesses observed in mining, manufacturing, and transportation, which in turn alleviated concerns about growth that had previously put pressure on long-term yields. Meanwhile, the U.S. PCE report illustrated generally stable inflation, with core inflation remaining steady alongside a slight increase in headline figures. This has reinforced the anticipation of Federal Reserve rate cuts later this year and has bolstered risk appetite. However, trade developments provided some resistance following President Trump's announcement of impending tariffs on branded pharmaceuticals, heavy trucks, and kitchen cabinets, set to be implemented next week. Additionally, a nationwide Canada Post strike on Thursday introduced further logistical risks for retailers and distributors. Within the market, major sectors largely traded upwards, with financials, energy, and mining leading the gains, while the technology sector lagged behind.