TSX futures rise as Iran-Israel ceasefire boosts market sentiment
(Reuters) -Futures linked to Canada's main stock index rose on Tuesday after U.S. President Donald Trump said Iran and Israel had agreed to a ceasefire after 12 days of war.
Futures on the S&P/TSX index were up 0.5% at 06:50 a.m. ET (10:50 GMT)
However, the truce remained shaky as, hours after the ceasefire declaration, Israeli Defence Minister said Iranian missiles were fired in violation of the agreement and he had ordered the military to strike Tehran in response.
Iran denied the charge.
Trump said both Israel and Iran violated the ceasefire he had announced hours earlier.
In other developments, the European Union and Canada agreed to deepen ties with a new security pact on Monday before the NATO summit began in the Hague.
Oil prices, dropped more than 3% to two-week lows, while gold slipped as demand for safe-haven assets dampened on news of the ceasefire.
The commodity-heavy S&P/TSX composite index approached recent record highs on Monday as the market shrugged off escalating tensions in the Middle East.
Investors will monitor Federal Reserve Chair Jerome Powell's semi-annual monetary policy testimony before Congress closely for clues on rate cuts after recent dovish remarks from Fed speakers.
Also, Canada's May CPI data is expected later on Tuesday.
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21 minutes ago
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