FX.co ★ TSX Futures Edge Lower as Iran Rejects US Ceasefire Proposal

Futures linked to the S&P/TSX Composite Index slipped on Tuesday as investors assessed escalating tensions in the Middle East. Iran rejected a US proposal for an immediate ceasefire and the reopening of the Strait of Hormuz ahead of President Donald Trump’s deadline, instead presenting a 10-point plan that calls for ending regional hostilities, establishing safe passage protocols, and lifting economic sanctions. Crude oil prices extended their gains, intensifying stagflation concerns and pushing bond yields higher. The resulting rise in borrowing costs weighed on financial stocks amid worries about weakening credit demand, even as this month’s oil rally continued to bolster energy producers. Elsewhere, markets awaited the March reading of Canada’s Ivey Purchasing Managers Index, with consensus projections indicating a slower pace of expansion than in February.