(Reuters) – Futures tied to Canada’s main stock index rose on Tuesday, as geopolitical tensions and tariff uncertainties lifted the prices of oil, gold and copper.
The futures on the S&P/TSX index were up 0.2% at 6.50 ET (1050 GMT)
In commodities, oil prices rose for the fifth consecutive day on concerns about global supply tightening after the U.S. imposed tariffs on countries purchasing Venezuelan crude. [O/R]
Gold prices rose amid ongoing uncertainty over impending reciprocal U.S. tariffs and their impact on the global economy. [GOL/]
Copper prices edged up as markets monitored the metal’s movement to the U.S. due to potential tariff issues. However, a stronger dollar limited the gains. [MET/L]
Toronto’s main stock index touched a three-week high on Monday after U.S President Donald Trump’s administration said that not all of his threatened levies would be imposed on April 2 and that some countries may get breaks, signaling flexibility to the global markets.
Canadian aerospace trade groups said on Tuesday that escalating U.S. tariffs and Canadian retaliatory measures could increase costs for aerospace items and services from aircraft components to engine repairs.
Investors now await key economic data later this week, including Canada’s January GDP figures and the U.S. Federal Reserve’s preferred inflation gauge — the Personal Consumption Expenditure report.
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(Reporting by Sanchayaita Roy in Bengaluru; Editing by Sahal Muhammed)
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