Timely forex news is essential for traders. Enjoy this fresh update.
Canada's S&P/TSX Composite Index fell about 2% on Friday, dropping below the 33,000 level and putting the Toronto market on track for weekly losses of more than 4%. Escalating conflict in the Middle East and disruptions in the Strait of Hormuz fueled a global flight to safety, unsettling risk assets.
The geopolitical turmoil pushed Canadian bond yields higher, weighing heavily on major banks, with shares of RBC (-1.8%), TD (-2.4%), BMO (-2.3%), and Scotiabank (-2.2%) all retreating. At the same time, a stronger US dollar pressured precious metals, dragging down Agnico Eagle, Barrick Gold, and Wheaton Precious Metals by more than 2%.
In the midst of the volatility, energy infrastructure provider South Bow launched a formal open season for its proposed revival of the Keystone XL pipeline project, which aims to increase Canadian crude export capacity by 12%. However, even surging oil prices and record production at Canadian Natural Resources were not enough to lift the broader index, as energy producers also failed to offset the broader market decline.
Grid trading done right – try the robust Grid Expert Advisor for controlled risk. Details here.
The material has been provided by - RobotFX.Org
Thanks for reading. Enhance your strategy with proven RobotFX tools – check them out.
Download NOW!
No comments:
Post a Comment