The Canadian Index

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Chart showing vessel traffic through the Strait of Hormuz only partially recovering in mid-2026.

Vessel traffic through the Strait of Hormuz remains well below its pre-conflict pace even after a partial recovery, a gap that matters because gasoline prices were the entire reason Canada's June inflation cooled to 2.8 percent from May's 3.2 percent. That relief was tied to a ceasefire window that had already collapsed before the data was released. July's inflation reading, due August 17, lands two weeks before the Bank of Canada's September 2 decision.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart showing Brent crude oil prices rising to 89.76 dollars a barrel amid renewed Strait of Hormuz tensions.

Brent crude traded near $89.76 Tuesday, up 2.3 percent, after President Trump said Iran must pay compensation before Strait of Hormuz talks can resume.

Trump's Compensation Demand Stalls Hormuz Talks Again

August 11, 2026

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Line chart tracking the S&P/TSX Composite through July's ceasefire collapse, near-record rally, and late-month pullback to a 35,226 close.

The S&P/TSX Composite closed July at 35,226, up 1.06% for the month, a modest headline figure that conceals sharp intra-month swings.

S&P/TSX Composite closes July up 1.06% after a volatile month

July 31, 2026

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Line chart comparing Brent and WTI crude oil prices through July's four-leg rally to $85.47.

Brent and WTI crude both surged in July, with WTI ending the month at $85.47, up 23.0%, after round-tripping from a five-month low near $68.74.

WTI and Brent crude surge in July as the Iran ceasefire collapses

July 31, 2026

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Line chart showing Bank of Canada core inflation measures CPI-trim and CPI-median through June 2026.

Canada's core inflation measures broke below the Bank of Canada's 2% target for the first time this cycle in June, with CPI-trim falling to…

Core Inflation Broke Below Target for the First Time This Cycle. Bank Stocks Were the Only Ones That Did Not Believe It.

July 20, 2026

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Bar chart showing TSX sector and stock moves Monday, led by declines in CIBC and National Bank.

TSX financials fell more than 1% Monday, led by a 2% decline in CIBC, even as fresh inflation data gave the Bank of Canada exactly the…

Core Inflation Broke Below Target for the First Time This Cycle. Bank Stocks Were the Only Ones That Did Not Believe It.

July 20, 2026

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Line chart comparing WTI crude oil and gold prices as they diverged after the US-Iran truce collapse in July 2026.

WTI crude oil climbed to $81.78 a barrel, up 16% over the week, after the US-Iran ceasefire collapsed and Washington reimposed a naval blockade of Iranian ports.

WTI crude oil and gold prices diverge after Iran truce collapse

July 18, 2026

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