Daily-Wrap

Global Macro Backdrop

Partially reversing the losses from the four previous sessions, Canadian stocks moved higher on Friday as reports indicating an upcoming meeting between Iran and the Gulf Cooperation Council members to de-escalate gulf tensions sparked expectations of an earlier reopening of the Strait of Hormuz.

Immediate support is positioned near 35,500, a crucial level for maintaining the current technical structure. Sustained trading above this level could help stabilise market sentiment and preserve the broader bullish outlook. A rebound from this support may encourage buying interest and support a recovery …

Canadian stocks moved higher on Wednesday, partially offsetting three previous sessions of losses as investors parsed the decision by the Bank of Canada to hold the interest rates at 2.25% amid ongoing Canada-U.S.Trade Warand the intensifying U.S.-Iran re-escalation.

Global Macro Backdrop

Canadian stocks slumped on Tuesday, extending the two previous sessions of losses following today's fresh wave of U.S. strikes against Iran. In addition, traders continued to assess the long-term effects of the mutual tariffs imposed by Canada and the U.S. on Canadian economy.

Despite the near-term weakness, the broader technical outlook remains constructive, with theindextrading comfortably above its 50-day SimpleMoving Average(SMA), which continues to act as a key dynamic support level and reinforce the prevailing medium-term uptrend. Immediate support is positioned near 35,600, while key resistance is …