FX.co ★ TSX Futures Edge Up on US-Iran Diplomacy Hopes

Futures tied to the S&P/TSX Composite Index edged higher on Tuesday, as investors grew cautiously optimistic that the Middle East conflict could be resolved, following reports that US–Iran talks may resume in Islamabad as early as this weekend. Crude prices declined on expectations that an easing of conflict-related supply disruptions could reduce stagflation and interest-rate hike risks, alleviating pressure on banking shares. However, weaker oil prices are likely to weigh on energy producers. At the same time, gold prices climbed, supported by a softer US dollar, providing a tailwind for mining stocks.