FX.co ★ TSX Edges Higher on Wednesday

The S&P/TSX Composite Index saw a modest increase of 0.2%, surpassing the 26,580 threshold on Wednesday. This growth was fueled by stronger commodity prices, robust housing market indicators, and advancements in global trade discussions. The surge in crude oil prices bolstered energy companies like Canadian Natural and Suncor, while key financial institutions—RBC, TD Bank, and Brookfield—each experienced gains exceeding 0.5%. On the domestic front, the Canada Mortgage and Housing Corporation reported that the six-month trend in housing starts for May stood firm at 243,407 units. Additionally, home sales recorded by the Multiple Listing Service (MLS) rose by 3.6% compared to the previous month, highlighting the ongoing strength of the consumer and construction sectors. Investors are also analyzing the recent G7 summit, where Prime Minister Mark Carney achieved a commitment to finalize a new economic agreement between the US and Canada and invited non-G7 partners to expand Canada’s export markets. Concurrently, tensions in the Israel-Iran conflict maintained a level of caution among investors, promoting a risk-off sentiment.