Latest from RobotFX: important news impacting currency trading.
Futures tracking Canada’s S&P/TSX Composite Index edged higher on Monday as investors weighed weaker oil prices against stronger-than-expected new inflation data. Crude retreated after US and Iranian officials concluded a first round of talks in Switzerland, easing concerns about energy-driven price pressures. Meanwhile, data released on June 22 showed that the annual inflation rate accelerated to 3.2% in May from 2.8% in April, exceeding market expectations of 3%. The headline increase was once again driven by higher gasoline prices, as supply uncertainty linked to the closure of the Strait of Hormuz pushed fuel costs up for a third consecutive month. Even so, subdued core inflation helped limit worries about more persistent, broad-based inflation. Investors also digested the recent move by Canada’s banking regulator to lower capital requirements for major lenders, a decision viewed as supportive of credit growth. Gold prices rose, providing an additional boost to mining stocks.
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