TSX futures rise as Trump pauses 50% tariffs
TSX futures edge higher after Donald Trump pauses a three-day rollout of new 50% tariffs on Canadian goods, while oil firms to a three-week high and gold gains on a weaker dollar.
Futures tracking Canadian equities edged higher on Wednesday after US President Donald Trump paused new tariffs on Canadian goods.
Trump announced late Tuesday that he was putting a three-day pause on the new 50% tariffs that were set to take effect on Canadian goods on Wednesday, saying the two countries had reached a deal.
The prospect of a deal lent support to Canadian exporters.
Oil prices hit a three-week high as uncertainty over shipping through the Strait of Hormuz and ongoing supply disruptions persisted, supporting energy producers.
Gold prices were supported by a weaker dollar as global bond yields stabilized, supporting mining stocks.
Meanwhile, financials and the broader index remained under pressure amid energy-driven inflationary pressures stemming from the Middle East conflict and ahead of the release of the US Federal Reserve’s July meeting minutes.