FX.co ★ TSX Edges Higher After Jobs Report

The S&P/TSX Composite Index inched higher on Friday to trade above 35,000, hovering near its record high after a strong jobs report. Domestic employment rose by 18,200 in June, adding to May’s gain of 88,000, while the unemployment rate unexpectedly declined, matching its lowest level in nearly two years. Financial stocks were mixed as the robust economic data reduced pressure on the Bank of Canada to cut interest rates: Brookfield climbed nearly 2%, whereas TD Bank slipped about 1%. In the technology sector, Shopify advanced 4%, extending a rally that began in the US after SK Hynix raised $26.5 billion through an American depositary receipt offering, overcoming market volatility to complete the largest-ever US IPO by a foreign company. Elsewhere, Velan fell 2% after reporting an adjusted net loss for the first quarter.