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Index Update: The benchmark S&P/TSX Composite Index settled with a gain of 135.40 points or 0.53% at 25,698.51.

Macro Update: The U.S data is showing a bigger than expected increase in U.S. consumer price inflation increased speculation the Federal Reserve will leave interest rates on hold for a prolonged period.

Top Movers: Shopify Inc (SHOP.TO) rallied 5.2%. Docebo Inc (DCBO.TO), Descartes Systems (DSG.TO) and Constellation Software (CSU.TO) gained 1.7 to 2%. Bitfarms (BITF.TO) gained 2.6%.

Our Stance: From a technical standpoint, the index remains in a solid uptrend, trading well above its 21-period Simple Moving Average (SMA), reinforcing bullish sentiment. The index is currently testing a key support level near 25,300, which will be pivotal in sustaining the uptrend. Holding above this level could maintain bullish momentum, while a breakdown may lead to a pullback, with key support zones at 25,100 and 24,800.

Commodity Update: The U.S. dollar and major currencies remained stable on Friday as traders evaluated the impact of Washington's planned reciprocal tariffs, which will not be immediately enforced. U.S. President Donald Trump instructed his economic team to develop plans for tariffs on countries taxing U.S. imports. Meanwhile, a U.S. producer price report alleviated concerns about inflation. Commodities have mixed performance: gold gained 0.35% to $2955.80, silver rose 1.58% to $33.24, and copper increased by 0.45% to $9533.95. Brent oil dropped 0.21% to $75.02, recovering from earlier losses as the tariff announcements were postponed until at least April, easing trade war fears.

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Technical Update: On Thursday, the S&P/TSX Composite Index continued its upward trajectory, gaining 135.40 points (+0.53%) to close at 25,698.51. Strong trading volumes reflected sustained investor confidence, with the technology sector leading the advance, rising 1.92% on renewed optimism. From a technical standpoint, the index remains in a solid uptrend, trading well above its 21-period Simple Moving Average (SMA), reinforcing bullish sentiment. The Relative Strength Index (RSI) sits at 59.54, signaling healthy momentum while staying below overbought levels, leaving room for further gains. The index is currently testing a key support level near 25,300, which will be pivotal in sustaining the uptrend. Holding above this level could maintain bullish momentum, while a breakdown may lead to a pullback, with key support zones at 25,100 and 24,800.

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