FX.co ★ TSX Attempts to Renew Record High

On Monday, the S&P/TSX Composite advanced by approximately 0.3% to surpass the 27,370 mark, approaching record levels as renewed optimism regarding trade agreements and solid performance by materials-related stocks boosted the Toronto exchange. U.S. Commerce Secretary Howard Lutnick voiced optimism that Washington and Brussels might secure an agreement prior to the August 1st tariff deadline, raising expectations that Canadian exporters, especially in sectors like energy, metals, and agriculture, may encounter fewer obstacles in crucial international markets. Concurrently, a rally in bullion prices bolstered significant mining companies, with Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada all experiencing increases between 1.5% and 3% due to rising gold prices. On the domestic front, Statistics Canada announced a 0.4% month-over-month increase in the Industrial Product Price Index for June, alongside a 2.7% surge in the Raw Materials Price Index, driven by gains in energy inputs and non-ferrous metals.