Forex news and forex forecasts

07/02/2026 02:49

Canada: TSX Secures Strong Weekly Gains.

The S&P TSX Composite climbed 1.5% to close above 32,471 on Friday, rebounding from the prior session’s selloff and securing solid weekly gains of 1.7% as strength in mining and technology stocks outweighed lingering macro caution. Support came from January labour data showing the unemployment rate unexpectedly falling to 6.5%, which eased near term growth concerns even as a modest drop in net employment tempered expectations of a sharply more hawkish Bank of Canada. Technology shares led the advance, with Open Text surging 9.7% after strong earnings, Celestica rising 4.7%, and Shopify firming alongside a rebound in major US tech names. Resource stocks also outperformed, with Agnico Eagle, Barrick, Wheaton Precious Metals, and Franco Nevada gaining between 2.7% and 3.7% as gold prices surged. Energy shares were more mixed as oil prices remained volatile ahead of US Iran talks in Oman.