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Markets Digest Hot U.S. Inflation as Iran Tensions Keep Oil Elevated

Publication:  moneysavings.ca / Canadian Money Brief  Date:  Tuesday, May 13, 2026 The TSX opens cautiously Wednesday after hotter-than-expected U.S. CPI data rattled Wall Street on Tuesday, while Strait of Hormuz disruptions continue to lift energy stocks and pressure the loonie toward 1.35 against the greenback. TSX ~34,291 S&P 500 7,400.96 ▼0.16% WTI Oil ~$102/bbl ▲ Gold ~$4,721 USD/oz ▼ USD/CAD ~1.35 US CPI Apr 3.8% ▲ (est. 3.7%) Market Overview Canadian investors are starting Wednesday on a cautious note following a mixed session south of the border. U.S. equities dipped Tuesday after April's consumer price index came in at 3.8% — a touch above the 3.7% consensus forecast and the highest reading since May 2023 — while the core rate held at 2.8%, also above expectations. The data has effectively closed the door on any Federal Reserve rate cuts in 2026, with traders now pricing in a roughly 70% chance of a rate hike by April 2027. For Canadians, the ripple effects...
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Cyprus: 50 Years of Division and Reflection

 

On July 20, 2024, Cyprus marked the 50th anniversary of the Turkish invasion, a pivotal event that has left the island divided ever since. The day was observed with a mix of solemn commemorations and celebratory events, reflecting the deep-seated divisions between Greek Cypriots and Turkish Cypriots.

At dawn, air raid sirens wailed across Nicosia and other cities, a stark reminder of the invasion that began on this day in 1974. Greek Cypriots mourned the loss and displacement caused by the invasion, with memorial services and moments of silence held to honor the fallen. President Nikos Christodoulides emphasized the importance of reflection and the pursuit of peace, urging for renewed dialogue to resolve the ongoing division.

In contrast, Turkish Cypriots in the north celebrated what they view as a liberation from Greek Cypriot control. Turkish President Tayyip Erdogan attended a military parade in northern Nicosia, marking the event as a "peace and freedom operation". The celebrations included a display of military strength, symbolizing the enduring presence and support of Turkey in the region.

Despite recent improvements in relations between Greece and Turkey, the Cyprus issue remains a sensitive and unresolved matter. The island’s division continues to evoke strong emotions and differing narratives on both sides. Efforts for reunification have repeatedly stalled, with the last significant attempt collapsing seven years ago.

As Cyprus reflects on this significant milestone, the hope for a peaceful resolution remains, albeit tempered by the complexities of the past and present.



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