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5 Things to Know Today: TSX Recap, Oil Eases, Loonie Under Pressure & Alberta's Pipeline Announcement (July 3, 2026)

  Friday, July 3, 2026 Here's what's moving markets and your money this morning — from Bay Street to the pumps to Ottawa. 1. TSX gains as investors digest a mixed session The S&P/TSX Composite closed up 0.31% on Thursday at 34,966.67 points (+109.68), its first full trading day back after the Canada Day holiday. Financials were mixed — Brookfield edged higher while TD Bank slipped nearly 1% — but mining stocks got a lift as gold prices ticked up, with Barrick and Franco-Nevada both up more than 3%. Shopify was the standout, jumping over 5% after settling a dispute with Shopline. 2. Oil prices ease as Iran-US talks continue in Doha Crude prices pulled back further and are now trading closer to pre-conflict levels after another round of indirect US-Iran talks in Doha, even though the sides didn't reach a breakthrough. That's welcome news for anyone filling up this long weekend, and it's also easing some of the energy-driven inflation pressure that's been compl...

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Trump Reiterates 100% Tariffs Threat to Dissuade BRICS Nations from Replacing U.S. Dollar

In a recent statement on Truth Social, President Donald Trump renewed his threat to impose 100% tariffs on BRICS nations if they attempt to replace the U.S. dollar as the global reserve currency. The BRICS alliance, which includes Brazil, Russia, India, China, and South Africa, along with newer members such as Egypt, Ethiopia, Iran, and the United Arab Emirates, has been exploring alternatives to the U.S. dollar in international trade.

Trump's warning comes amid growing frustration among BRICS nations over America's control of the global financial system. He demanded a firm commitment from these countries to cease any attempts to create a new currency or back existing currencies in competition with the U.S. dollar. Failure to comply, he warned, would result in severe consequences, including the imposition of 100% tariffs on goods imported from these countries and the end of their access to the U.S. market.

The U.S. dollar remains the dominant currency in global trade, but members of the BRICS alliance argue that America's control over the financial system is increasingly problematic. Russian President Vladimir Putin has accused the U.S. of "weaponizing" the dollar and has expressed the need for alternatives. The BRICS alliance, established in 2009, aims to challenge the world order dominated by the United States and its Western allies.

Trump's renewed threat underscores the ongoing tensions between the U.S. and the BRICS nations as they seek to assert their economic independence and reduce reliance on the U.S. dollar.


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