TSX Treads Water Ahead of Key Economic Indicators
Canada's TSX futures barely moved on Monday as traders awaited key economic indicators. The S&P/TSX Composite index, which had reached a record high just the previous Friday, remained steady at 2,139.50.
The Strait of Hormuz shipping talks between Iran and Oman were a significant factor, with oil prices holding steady around $84 a barrel for Brent and $79 for WTI. The talks' outcome could influence global energy markets.
Barrick Mining, a major gold miner, reported lower-than-expected profits in its second quarter, causing its US-listed shares to fall by about 5% premarket.
The real driver behind the market's hesitation, however, is the upcoming release of July consumer price inflation (CPI) data on Wednesday. Traders are watching for a potential Federal Reserve rate hike in September, with a 44% probability cited in CME FedWatch.