FX.co ★ TSX Rebounds From 7-Month Lows

The S&P/TSX Composite Index rose more than 1.5%, exceeding the 23,200 threshold on Tuesday, marking a comeback from three days of declines that had dragged it to the lowest point in seven months. This uptick is driven by renewed hopes for U.S. tariff negotiations, which may alleviate the strain of stringent tariffs, combined with rising gold prices that support the mining industry. Case in point: Barrick Gold's financial initiatives provide a positive outlook and improve foreign exchange inflows. Furthermore, the Canadian dollar's rise to around 70.49 US cents strengthens the competitiveness of imported goods and boosts investor confidence in the country's monetary stability. The tech sector spearheaded the recovery, with Shopify soaring over 6%, while financial and gold-linked stocks such as Brookfield, Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada made significant contributions, gaining between 1.3% and 4%.