Friday's TSX gain to 36,620.23 was narrow, led by gold miners and financials while retailers lagged, and futures pointed softer as Iran sanctions, Nvidia earnings, and a closely watched Jackson Hole speech from a leading Fed contender all landed within seventy-two hours. USD/CAD weakened toward 1.385 the same morning even as the broader US dollar index softened, a domestic trade-dispute signal overriding the global currency trend. The index had hit a record 36,844.73 on August 14 before an August 18 reversal tied to a global bond yield spike.
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Brent was the only one of the three to finish above its starting level, while the index and gold both fell.
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The Bank of Canada held its policy rate at 2.25% for a seventh straight time, yet Canadian yields rose as United States yields surged.
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The index fell for the month even though Brent crude gained and the Strait of Hormuz stayed shut, because rising United States bond yields outweighed oil and gold.
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The TSX and S&P 500 tracked each other closely from July 3 through last week before splitting on Friday and Monday.
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