Canadian Stocks End Roughly Flat

index Update:  Canadian stocks closed little changed on Friday as the prospects of an end to the gulf crisis amid reports indicating that Iran relaxed its hard stance supported the market. After opening just above yesterday's close, today the benchmark index-txcx">S&Amp;P/TSX Composite index lost momentum early in the session and traded lower. However, it gained ground towards the end to settle at 33,904.11, down by 8.82 points (or 0.03%).

Macro Update:  Data released by Statistics Canada today revealed that retail sales (excluding autos) increased 0.50% month-over-month in February. Retail sales increased 0.60% month-over-month in March, according to a preliminary estimate. With the timeline for review of the Canada-United States-Mexico Agreement closing in, investors are awaiting some "green signal" from Prime Minister Mark Carney's newly formed advisory committee (comprising 24 members) on Canada-U.S. economic relations.

Top Movers:  Among the individual stocks, Curaleaf Holdings Inc (13.00%), Transalta Corporation (2.90%), Metro Inc (1.35%), Celestica Inc (4.38%), and Computer Modelling Group Ltd (3.86%) were the prominent gainers.

Our Stance: The broader trend indicates consolidation, as the index lacks a clear breakout catalyst. Immediate support is seen near 33,700; a sustained break below this level could dampen sentiment and open the door for a deeper pullback toward the 33,400 zone.

Commodity Update:   

The U.S. dollar held steady on Monday as uncertain progress on resolving the Middle East conflict kept markets cautious, while the Japanese yen hovered just below the 160.00 level ahead of the Bank of Japan’s policy decision. Gold declined 0.13% to USD 4,735.20 and silver slipped 0.50% to USD 76.07. Copper gained 0.29% to USD 13,352.10. Brent Crude rose 2.00% to USD 107.48 amid limited progress in U.S.-Iran talks.

Technical Update:

On Friday, the S&Amp;P/TSX Composite index edged lower by 8.82 points (0.03%) to close at 33,904.11, with the session reflecting a mixed tone rather than outright weakness. From a technical standpoint, the index continues to trade above its 21-period Simple Moving Average (SMA), which is acting as a dynamic support and helping sustain a constructive near-term bias. Momentum remains steady, with the 14-period Relative Strength index (RSI) hovering near 57.35, suggesting underlying strength while still leaving scope for further upside. However, the broader trend indicates consolidation, as the index lacks a clear breakout catalyst. Immediate support is seen near 33,700; a sustained break below this level could dampen sentiment and open the door for a deeper pullback toward the 33,400 zone.