FX.co ★ TSX Edges Marginallly Higher

The S&P/TSX Composite experienced a slight uptick on Thursday, surpassing the 29,330 mark, as investors proceeded cautiously in response to recent interest rate cuts by North American central banks and indications of further monetary easing. Specifically, both the Bank of Canada and the US Federal Reserve reduced their policy rates by 25 basis points. This move lowered discount rates and enhanced the valuations of sectors sensitive to duration and growth. Recent Canadian data pointing to a cooling labor market and decelerating economic growth have heightened the likelihood of additional easing measures and led investors to adjust their expectations regarding future interest rates. Among the top performers were rate-sensitive technology and financial giants such as Shopify and Brookfield, each gaining over 1 percent. Meanwhile, the index's gains were limited by significant mining stocks, as dips in gold and copper prices applied downward pressure on the miners.