FX.co ★ TSX Futures Slip Amid US Attacks on Iran

Futures linked to the S&P/TSX Composite Index slipped on Tuesday as optimism for a swift resolution to the Middle East conflict faded following fresh US military strikes in Iran. The renewed tensions heightened uncertainty over the timing of a reopening of the Strait of Hormuz. Gold prices also declined as worries about persistent inflation and the prospect of interest rates staying higher for longer resurfaced, weighing on mining stocks and the broader index. Investors were focused on upcoming quarterly results from Canada’s major banks, with RBC and TD Bank scheduled to report on Wednesday and Thursday, respectively, and BMO, Scotiabank, and NBC also set to release earnings on Wednesday. In corporate news, Manulife Financial launched a 10-year Singapore dollar-denominated subordinated Tier-2 bond with a five-year non-call period. Meanwhile, markets kept a close watch on the first round of formal negotiations over the US-Mexico-Canada trade agreement.