Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
Classic Carrot Cake with Cream Cheese Frosting
Ingredients:
- 1 cup currants (soaked in hot water to plump them up, then drained)
- 2 cups all-purpose flour
- 2 teaspoons ground cinnamon
- 1/2 teaspoon ground nutmeg
- 1/2 teaspoon ground ginger
- 1 teaspoon baking soda
- 1/2 teaspoon salt
- 1 cup chopped walnuts or pecans
- 1 pound carrots (finely chopped in a food processor)
- 4 large eggs
- 1 cup granulated sugar
- 1 cup packed light brown sugar
- 1 1/4 cups vegetable oil
Instructions:
- Preheat your oven to 350°F (175°C).
- In a large bowl, combine the flour, spices (cinnamon, nutmeg, ginger), baking soda, and salt. Whisk to blend.
- Add 1/4 cup of the flour mixture to the drained currants and nuts. Toss well; coating the currants and nuts with flour will prevent them from sinking to the bottom of the cake.
- Next, add the finely chopped carrots to a food processor fitted with the steel blade. Process until they are the consistency of couscous.
- Transfer the carrots to a bowl and wipe the processor bowl clean.
- Add the eggs, granulated sugar, and brown sugar to the processor. Process until smooth.
- With the machine running, slowly pour in the vegetable oil.
- Stir the wet ingredients into the flour mixture. Add the carrots, currants, and nuts. The batter will look very orange!
- Transfer the batter to a greased and floured 9x13-inch cake pan.
- Bake the cake for about 45 minutes, or until a tester comes out clean.
- While the cake cools, make the Cream Cheese Frosting:
- Combine 8 oz (225g) softened cream cheese, 1/2 cup (1 stick) unsalted butter, and 1 teaspoon vanilla extract in the bowl of an electric mixer. Beat until smooth and creamy.
- Gradually add 2 cups confectioners’ sugar. Once all the sugar is added, beat on medium-high speed until light and fluffy.
- Use an offset spatula to frost the cake. Sprinkle nuts on top, if desired, and serve the cake directly from the pan.
Note: This cake can also be made as a 9-inch layer cake. You’ll have enough frosting for the middle and top of the cake; just leave the sides bare — it’s pretty that way.
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