Bay Street Seen Opening On Negative Note

Canadian equities are likely to open lower as uncertainty around the status of U.S.-Iran peace talks and firmer oil prices increase inflation concerns. Elevated oil-driven inflation risk raises the prospect of further central bank rate hikes, creating risk-off positioning that could pressure cyclicals and financials in early trading.

Analysis

Canadian equities are likely to open lower as uncertainty around the status of U.S.-Iran peace talks and firmer oil prices increase inflation concerns. Elevated oil-driven inflation risk raises the prospect of further central bank rate hikes, creating risk-off positioning that could pressure cyclicals and financials in early trading.