FX.co ★ TSX Futures Rise on Progress in US-Iran Talks

Futures linked to the S&P/TSX Composite Index advanced on Monday, lifted by signs that the United States and Iran may be closing in on a peace agreement. US President Donald Trump said Saturday that a memorandum of understanding on a potential deal with Iran was “largely negotiated,” while officials from both countries, along with mediators in Pakistan, cited progress in the talks.

Oil prices slipped below $100 per barrel on hopes that an agreement could lead to the reopening of the Strait of Hormuz. This eased stagflation concerns and pushed bond yields lower, a backdrop that tends to support bank shares and the broader equity index.

Investors were also looking ahead to quarterly results from major Canadian lenders, including Royal Bank of Canada, TD Bank, and Bank of Montreal, all scheduled to report later this week. In addition, sustained optimism around AI-focused technology names continued to lend support to Canadian tech stocks.

At the same time, gold prices moved higher, bolstering mining shares, while energy stocks were expected to come under pressure from weaker crude prices.