TSX Index Rises Amid Escalating US-Iran Tensions
Canada's TSX index started the week on a strong note, surging to begin September's final full week amid heightened tensions between the US and Iran. The benchmark subsided by 67.61 points to close at 35,806.65 on Friday but still managed a nearly 0.48% gain for the week.
The Canadian dollar also weakened slightly, dipping 0.11 cents to 71.34 cents USD. Meanwhile, December futures rose 0.7% in morning trading, with the commodity-heavy TSX outperforming its US counterpart, the S&P 500, which has seen an 11.8% gain so far this year.
Market participants are eagerly awaiting Bank of Canada Governor Tiff Macklem's speech for clues on the central bank's future policy path. There is a 60% probability that interest rates will be raised at the next meeting, according to market pricing.