FX.co ★ TSX Reaches One-Month High

The S&P/TSX Composite Index experienced a gain of approximately 0.3% on Wednesday, surpassing the 25,400 threshold. This marks the continuation of its upward trajectory for the third day in a row, reaching its highest point in a month following a surge in the markets on Monday. This surge was prompted by U.S. President Donald Trump's announcement that not all of the trade tariffs set for April 2nd would be implemented, with potential exemptions for certain countries, although the details remain unspecified. Leading the gains were prominent energy companies, Canadian Natural Resources (up 0.7%) and Suncor Energy (up 0.6%), benefitting from increased oil prices. This development followed Trump's issuance of an order instituting 25% tariffs on imports from nations purchasing Venezuelan oil, a measure that may disrupt supply chains for significant refiners in places like China, India, and Spain. In parallel, major banks also showed strong performance, bolstering the overall momentum of the Toronto exchange.