FX.co ★ TSX Halts 6-Day Win Streak

The S&P/TSX Composite Index experienced a slight decline of approximately 0.2% on Wednesday, dipping below the 25,600 level. This decline followed a robust rally, which had been fueled by easing global trade tensions and unexpectedly moderate inflation data from the US. Investors were keenly awaiting additional advancements in trade agreements. The Canadian stock market had seen a rise over six consecutive sessions up to Tuesday, supported by signs that US inflation was cooling and an optimistic outlook for global trade. However, this upward momentum waned as major mining companies pulled the index down. Firms such as Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada saw their shares drop between 1.6% and 2.5%, paralleling a persistent decrease in gold prices. Additionally, energy stocks fell due to declining oil prices. On a more positive note, Shopify distinguished itself by gaining around 3%, thereby providing some support to the overall market.