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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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Trudeau Stays Put Over Holidays, Freeland Eyes Leadership

 

Despite mounting pressure from within his party, Prime Minister Justin Trudeau has decided not to step down over the Christmas holidays. According to sources, Trudeau will spend Christmas in Ottawa before heading to British Columbia for a ski vacation with his family. 

The Liberal Party is currently in turmoil following the resignation of Finance Minister Chrystia Freeland. Freeland's departure has intensified calls for Trudeau to resign, with many Liberal MPs suggesting she could be a strong contender for the party's leadership. Freeland's resignation letter highlighted her disagreements with Trudeau over the direction of the government, particularly in light of the challenges posed by U.S. President-elect Donald Trump's tariff threats.

As Trudeau reflects on his future, the Liberal Party is preparing for a potential leadership contest. Freeland, who has been praised for her handling of the NAFTA negotiations and her role during the COVID-19 pandemic, is seen by many as a capable successor. However, her popularity is not universal, with some MPs criticizing the timing and manner of her resignation.

The coming weeks will be crucial for the Liberal Party as they navigate this period of uncertainty and prepare for the possibility of a new leader at the helm.

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