FX.co ★ TSX Inches Higher on Tuesday

The S&P/TSX Composite Index pared early gains but still finished 0.2% higher at 32,930 on Tuesday, supported broadly by strength in bank and technology shares. Financials led the advance as easing bond yields improved the credit outlook for lenders during a period of sector-wide strain, with RBC, TD, and BMO all closing notably higher.

The Bank of Canada is scheduled to leave interest rates unchanged tomorrow, though policymakers are expected to flag an uncertain macroeconomic outlook, citing the energy shock stemming from the war in Iran. The Federal Reserve is also set to keep rates on hold and release updated economic projections.

In the technology sector, Shopify gained 1%, benefiting from positive momentum across tech names. In contrast, mining stocks declined, pressured by falling gold prices.