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Markets Digest Iran Peace Progress and Fed Rate-Hike Risk — June 22, 2026

  Markets are easing into a cautious start this Monday as investors return from a long weekend — U.S. markets were closed Friday for Juneteenth — and assess a mixed backdrop: tentative optimism over U.S.–Iran peace talks, a newly hawkish Federal Reserve, and a key week of economic data and earnings ahead. Oil is steadying, the Canadian dollar is under modest pressure, and Asian markets rallied while European and U.S. futures drifted slightly lower in early trading. 🍁 Canada — TSX & the Loonie The S&P/TSX Composite Index heads into Monday trading with a cautious tone, sitting near the 34,857 level after slipping 0.32% on Thursday — the last day Canadian markets were open. Energy stocks will be in focus as oil prices stabilize following weeks of volatility tied to the U.S.–Iran conflict and the partial reopening of the Strait of Hormuz. The Canadian dollar is trading at approximately 70.52 cents U.S. (CAD/USD: 0.7052), down about 0.22% on the session. The loonie remains und...
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Iranian Consulate in Damascus Flattened in Suspected Israeli Air Strike


In a startling escalation of conflict in the Middle East, Iran’s consulate in the Syrian capital, Damascus, was obliterated in what Syrian and Iranian media have described as an Israeli air strike. The attack has raised tensions between Israel and Iran, pitting them against each other and their respective allies.

Pictures from the scene show the flattened remains of a building that stood next to Tehran’s embassy in Damascus. Smoke billowed from the rubble, and emergency vehicles swarmed the area. An Iranian flag, defiant yet tattered, hung from a pole amidst the debris. The Syrian and Iranian foreign ministers were both present at the scene, witnessing the aftermath of the destruction.

Reports indicate that several Iranian diplomats lost their lives in the attack. Among the dead was Mohammad Reza Zahedi, a senior commander in Iran’s Revolutionary Guards Corps (IRGC). Israel, known for its covert military operations, maintained its silence, adhering to its usual practice. An Israeli military spokesperson merely stated, “We do not comment on reports in the foreign media.”

Syria’s state news agency, SANA, reported an unspecified number of deaths and injuries. Meanwhile, Iran’s Tasnim news agency confirmed that five people were killed in the Israeli strike.

Since the Iranian-backed Palestinian faction Hamas launched an attack on Israel in October, the Israeli military has intensified air strikes in Syria. Their targets include Lebanon’s Iranian-backed Hezbollah militia and Iran’s Guards, both of which support Syrian President Bashar Assad’s government.

The obliteration of the Iranian consulate in Damascus marks a significant escalation, further complicating the already volatile situation in the region. As tensions simmer, the world watches closely, wondering how this latest incident will impact the delicate balance of power in the Middle East.


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