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5 Things to Know Today: Your Canadian Money Brief — June 2, 2026

  Tuesday, June 2, 2026  |  MoneySavings.ca Markets are mixed, a big government cheque is days away, and the Bank of Canada is just over a week from its next rate call. Here's what every Canadian should have on their radar this morning. 1 of 5 TSX Inches Lower as Gold Slips and Financials Feel the Heat The S&P/TSX Composite closed Monday at 34,735 points, down about 0.10% from Friday's session. It was a tale of two sectors: financials dragged on the index as RBC and TD each lost close to 1%, with CIBC shedding nearly 2%, while gold miners also pulled back — Agnico Eagle fell 3.5% and Barrick dropped close to 3%. On the bright side, energy stocks surged as oil prices rallied, with Canadian Natural Resources up nearly 3% and Suncor gaining over 3%. Shopify also climbed roughly 2% on enthusiasm around AI chip advances. Year-to-date, the TSX is up about 9.5% — trailing Japan's Nikkei (+31.8%) but ahead of the S&P 500 (+11.0%) for the period through June 1. 💡 Money Ti...
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U.S., Britain, and Australia Consider Expanding AUKUS Security Pact to Counter China’s Influence

 

The United States, the United Kingdom, and Australia are poised to engage in talks aimed at broadening their AUKUS security pact. This move comes as Washington advocates for Japan’s inclusion in the pact as a strategic measure against China’s growing assertiveness in the Indo-Pacific region.

The AUKUS pact, unveiled by the three nations in 2023, represents their collective efforts to curb China’s increasing influence. It encompasses joint initiatives related to quantum computing, undersea capabilities, hypersonic technology, artificial intelligence, and cyber advancements. These areas fall under the pact’s “pillar two” commitment.

The upcoming talks will explore the possibility of bringing new members into the AUKUS fold. While the first pillar of the pact focuses on delivering nuclear-powered attack submarines to Australia, the second pillar aims to foster technological collaboration among the member countries. Japan’s involvement is seen as crucial in countering China’s military buildup and territorial ambitions.

China has expressed concern over the AUKUS pact, labeling it as dangerous and warning of a potential arms race in the region. U.S. Deputy Secretary of State Kurt Campbell emphasized that the AUKUS submarine project could serve as a deterrent against any Chinese aggression toward Taiwan, a democratically governed island that Beijing claims as part of its territory.

President Joe Biden has actively sought to strengthen partnerships with Asian allies, including Japan and the Philippines. His administration aims to bolster regional security and stability amid China’s geopolitical maneuvers. In the coming days, Biden will host Japanese Prime Minister Fumio Kishida in Washington and convene a trilateral summit, which will also include Philippine President Ferdinand Marcos Jr.

As geopolitical dynamics continue to evolve, the international community closely watches how these diplomatic efforts unfold and their impact on the delicate balance in the Indo-Pacific theater.


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