Canada Stocks-Toronto futures rise as US-Iran de-escalation hopes lift sentiment
EWC•Oil declines and gold firms
- Oil prices tumbled after Washington and Tehran paused fighting over the weekend, raising hopes of a resumption of shipping through the Strait of Hormuz.
- Brent Crude futures LCOc1 slipped over 7%, while West Texas Intermediate Crude CLc1 shed 6.9%. O/R
- Gold prices edged marginally higher as a softer U.S. dollar and easing inflation concerns following the dip in oil prices supported demand for the safe-haven metal.
- Spot gold XAU= added 0.9%, while silver XAG= advanced 1.8%.GOL/
Earnings, trade and Fed decision on watch
- Investors are awaiting a fresh round of corporate earnings, including second-quarter results from technology firm Celestica Inc CLS.TO and energy infrastructure company Gibson Energy GEI.TO, due after the closing bell.
- On the trade front, Canada and the United Arab Emirates concluded negotiations on Friday, paving the way for an agreement that would help Ottawa diversify trade beyond the U.S. and help the Gulf nation increase non-oil exports.
- Separately, U.S. President Donald Trump on Friday vowed tariffs on Canada in retaliation for smoke from wildfires that has drifted into the U.S., adding another point of friction to already strained trade relations between the two neighbors.
- Markets are also awaiting the interest rate decision from the Federal Reserve. The U.S. central bank is expected to hold rates.
Toronto futures rise on easing geopolitical tensions
July 27 (Reuters) - Futures tracking Canada's blue-chip stocks ticked higher on Monday as hopes of a diplomatic off-ramp in the U.S.-Iran war lifted sentiment and boosted risk appetite.
