Trade Tensions and Inflation Pressures Weigh on Markets

Canada's stock market paused on Wednesday after reaching a record high in the previous session. Investors remained cautious due to ongoing trade tensions between Canada and the US, with both countries implementing retaliatory tariffs. The Canadian dollar traded at 72.05 cents US, while US crude futures fell to $82.28 a barrel.

US markets saw limited movement following the publication of July's Personal Consumption Expenditures Price Index. The index remained at an annualized rate of 3.7%, exceeding forecasts slightly and indicating persistent consumer cost pressures. This news was a concern for investors, but it did not significantly impact market activity.