TSX futures edge higher as gold rises; trade tension persists
TSX futures trade higher as gold climbs, helping mining shares, while oil slips after a sharp weekly rally amid US–Canada trade escalation and Canada pledging to match 50% US tariffs on selected goods.
Futures tracking Canada’s stock market edged higher on Monday even though trade talks between the US and Canada collapsed.
Canadian Prime Minister Carny stated he would match US tariffs after the US imposed 50% tariffs on selected Canadian goods on Saturday.
The new duties include furniture, plastics, plywood and electrical equipment, adding to existing tariffs on steel, lumber and autos.
Still, equities rose as gold prices rose lent support to mining shares, which were set to extend a recent rally.
Meanwhile, oil prices slipped as investors took profits after a sharp weekly rally, offering some respite to financials and broader markets that have been under pressure from energy-driven inflation concerns.