TSX Futures Edge Lower as Oil Rises
Futures tracking Canadian equities edged lower on Monday as rising oil prices revived inflation concerns. Oil prices resumed their rally after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, renewing concerns that energy-driven inflation shocks could keep interest rates higher for longer. Yields moved higher, putting pressure on credit-sensitive stocks. Meanwhile falling gold prices pressured mining shares. On the data front, Canadian GDP data due Tuesday could offer cues on economic momentum and the future policy path of the Bank of Canada.
Futures tracking Canadian equities edged lower on Monday as rising oil prices revived inflation concerns. Oil prices resumed their rally after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, renewing concerns that energy-driven inflation shocks could keep interest rates higher for longer. Yields moved higher, putting pressure on credit-sensitive stocks. Meanwhile falling gold prices pressured mining shares.
On the data front, Canadian GDP data due Tuesday could offer cues on economic momentum and the future policy path of the Bank of Canada.