FX.co ★ TSX Marks Historic High

The S&P TSX Composite Index advanced by 0.6% on Tuesday, reaching a new high of 32,407. This rise builds on the gains from the prior trading session, largely due to the robust performance of commodities, which counterbalanced the pressures faced by the energy sector. Notably, major mining companies such as Agnico Eagle, Barrick, and Wheaton Precious surged by more than 3.5%. This rally in precious metals can be attributed to an increased demand for safe-haven assets, driven by reports of media crackdowns in Venezuela following Delcy Rodríguez's inauguration as president and the recent apprehension of Nicolás Maduro by the United States. In contrast, energy companies experienced a downturn, as the potential resumption of Venezuelan crude shipments to the US raised concerns about the market share outlook for Canadian oil exporters.