FX.co ★ TSX Futures Edge Higher on Commodity Producers

Futures tied to the S&P/TSX Composite Index experienced an uptick on Monday. This increase was attributed to a rise in commodity prices, providing a boost to both gold and oil producers during a holiday-shortened week that is traditionally favorable for equities. The index had previously closed at an all-time high of 31,756. Mining stocks gained momentum as gold prices exceeded $4,400 per ounce for the first time. This surge was fueled by anticipations of interest rate cuts in the United States and a continuous demand for safe-haven assets. Oil prices also saw an upward movement following reports from U.S. officials about an oil tanker being intercepted in international waters off the coast of Venezuela. This development raised concerns about potential disruptions in supply and positively impacted major Canadian energy companies. On the corporate front, Brookfield announced a mixed shelf offering, though the size remains undisclosed. Investors are now looking forward to the U.S. GDP data expected later this week.