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Weekly Market Snapshot: TSX Hits Record High, Then Retreats as Fed Shocks Markets

  Week of June 16–20, 2026  |  Published June 20, 2026 It was a week of records and reversals for Canadian investors. The TSX touched an all-time high midweek before a hawkish surprise from the U.S. Federal Reserve and falling oil prices — triggered by the U.S.–Iran interim peace deal — pulled markets lower into Thursday's close. Here's everything that moved the needle for your portfolio and wallet this week. 📊 Weekly Market Scorecard Index / Asset Level (June 19 Close) Week Change S&P/TSX Composite 34,857 ▼ Mixed (high: 35,629 Wed.) S&P 500 (USD) 7,500.58 ▲ +1.08% (Wed.) Dow Jones (USD) 51,564.70 ▲ +0.14% (Wed.) Nasdaq (USD) 26,517.93 ▲ +1.91% (Wed.) WTI Crude Oil (USD/barrel) ~$76.54 ▼ Sharp weekly decline Gold (USD/oz) ~$4,157 ▼ Fell on hawkish Fed CAD/USD (Loonie) ~$0.7068 ▼ Under pressure Note: U.S. markets were closed Friday, June 20, for the Juneteenth National Independence Day holiday. TSX figures reflect Thursday's close. 🇨🇦 TSX: A Record High That Did...

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Postal Workers Union Files Unfair Labour Practice Complaint Over Canada Post Layoffs

 

The Canadian Union of Postal Workers (CUPW) has filed an unfair labour practice complaint with the Canada Industrial Relations Board over the recent layoffs of striking employees by Canada Post. The union claims that the layoffs, which have occurred as the strike by over 55,000 workers approaches the two-week mark, are an "intimidation tactic" that violates the Canada Labour Code.

Canada Post has stated that the layoffs are temporary and necessary due to the significant impact of the strike on its operations. However, the union argues that this move is an attempt to undermine the strike and pressure workers into returning to work.

CUPW National Grievance Officer Carl Girouard stated, "These layoffs are a clear violation of the labour code and an attempt to intimidate our members. We are confident that the Canada Industrial Relations Board will see through this tactic and rule in our favour."

Canada Post spokeswoman Lisa Liu responded, "We have received the complaint and are reviewing it. We deny any violation of the labour code and maintain that the layoffs are temporary and necessary."

The strike, which began over wages and working conditions, has now reached a critical point with both sides urging for a resolution. The federal government has also stepped in, urging both parties to return to the negotiating table with a greater sense of urgency.

The outcome of this complaint could have significant implications for the ongoing labour dispute and the future of Canada Post's operations.




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