Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Ontario's Electricity Surcharge Sparks U.S. Backlash

Ontario's recent decision to impose a 25% surcharge on electricity exports to the United States has ignited tensions across the border. Premier Doug Ford announced the measure as a retaliatory response to U.S. tariffs on Canadian goods. The surcharge, effective immediately, impacts approximately 1.5 million homes and businesses in Michigan, Minnesota, and New York, potentially adding $100 to monthly electricity bills for affected consumers.

Ford defended the move, emphasizing its necessity to protect Ontario's interests amidst escalating trade disputes. He warned that further measures, including a complete halt to electricity exports, could follow if U.S. tariffs persist. While the surcharge is expected to generate significant daily revenue for Ontario, critics argue it could strain cross-border relations and disrupt energy markets.

U.S. governors have expressed concerns over the surcharge's impact on pricing and reliability, with some warning of potential reciprocal actions. As the trade standoff continues, the surcharge underscores the growing economic and political complexities in U.S.-Canada relations.

Labels:

Comments

Post a Comment