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Weekly Market Snapshot: TSX Holds Firm, Loonie Under Pressure as Energy Prices and Rate Uncertainty Dominate | May 23, 2026

  Markets navigated a week of competing signals — elevated energy prices, persistent U.S. inflation, and a Bank of Canada holding steady at 2.25% — as the TSX showed resilience while the Canadian dollar faced modest headwinds. Here's everything that moved the needle this week. 📊 Key Numbers at a Glance S&P/TSX Composite ~34,268 ▲ +7.1% YTD USD/CAD Rate 1.37 ▼ Off Apr. 30 high of 1.358 WTI Crude Oil ~$99/bbl ↑ ~50% since Iran conflict onset BoC Policy Rate 2.25% Held — May 2026 Canada CPI (April) 2.8% ↑ from 2.4% in March TSX Equities — Resilience Holds The S&P/TSX Composite has maintained its upward trajectory through the first half of 2026, up roughly 7.1% year-to-date as of the end of April — and analysts at CIBC continue to project an 11% overall gain for the full year . The energy and materials sectors have been the primary engines of that performance, with oil-price tailwinds from Middle East tensions providing a significant boost to Canadian producers. On the blue-c...
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Tragedy in Gaza: Israeli Airstrike Hits School, Killing 30 Including Children

 

In a devastating incident on Saturday, an Israeli airstrike targeted a school in Deir al-Balah, Gaza, which was being used as a shelter by displaced Palestinians. The attack resulted in the deaths of at least 30 people, including several children.

The school, which housed thousands of people seeking refuge from ongoing conflict, was struck amidst escalating tensions. According to Gaza’s Health Ministry, the victims included seven children and seven women. The injured were rushed to Al Aqsa Hospital, where the scene was described as chaotic and heart-wrenching.

Israel’s military stated that the strike aimed at a Hamas command center allegedly used for storing weapons and planning attacks. However, Palestinian officials and humanitarian organizations have condemned the attack, highlighting the severe impact on civilians.

This tragic event has intensified calls for a ceasefire, with international mediators from the U.S., Egypt, Qatar, and Israel scheduled to meet in Italy to discuss potential resolutions. The ongoing conflict continues to take a heavy toll on the civilian population, with urgent appeals for peace and humanitarian aid growing louder.


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